KUALA LUMPUR, Aug 8 — The Royal Malaysia Police (PDRM) is actively tracking down a man believed to be the mastermind behind a preference shares investment scam, which has resulted in losses amounting to RM2,319,300.
Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Rusdi Mohd Isa said the suspect, identified as Mohd Ezman Zamani, 39, was last seen in Rawang, Selangor. Efforts are underway to locate him to assist in investigations under Section 420 of the Penal Code for fraud.
He said a total of 279 police reports related to the case have been lodged with the department since 2023. Initial investigations found that the suspect had no prior criminal record, which allowed him to travel abroad freely before he was believed to have returned to Malaysia.
“Based on our investigation, victims were lured into the investment scheme after attending webinars organised by the company involved. They were promised dividend returns of up to 18 per cent per annum, or 1.5 per cent monthly, for each investment,” he said.
“At the beginning, investors did receive the promised returns. However, over time, various excuses were given, and the payments eventually stopped,” he told reporters during a press conference at Menara KPJ here today.
He urged members of the public who have information about the suspect or his whereabouts to contact the investigating officers – ASP Mohd Fikri Najib Ismail at 013-983 9854 or Insp Noor Azamin Noor Azahari at 011-6558 0848.
Commenting on the role of the National Scam Response Centre (NSRC), Rusdi said the 997 hotline now operates 24 hours a day, seven days a week, an upgrade from its previous operating hours of 8am to 8pm.
“Since switching to 24-hour operations up to August 3, the NSRC has received 10,038 calls – 7,254 during the day and 2,514 at night – averaging 358 calls per day. Of these, 51 per cent were fraud-related reports, while the rest were general inquiries or other types of complaints,” he said.
Rusdi added that total financial losses reported from January to July this year amounted to RM193 million. Of that amount, only RM12 million was successfully frozen, thanks to cooperation between the police and financial institutions through Bank Negara Malaysia (BNM).
“The remainder is believed to have been laundered through the layering process and transferred elsewhere. The frozen funds will be seized under legal provisions such as Section 116D of the Penal Code and returned to the victims, subject to investigation outcomes and regulations,” he explained.
He added that the Semak Mule portal, which allows the public to verify bank accounts, phone numbers, and companies linked to scams, has recorded 35,828,901 searches since its launch on Jan 1, 2015. So far, 272,250 bank accounts, 216,242 phone numbers, and 14,160 companies have been blacklisted.
“We also encourage the public to practise a ‘cooling-off period’ – taking a few days before committing to large payments or follow-up investments. The CCID has also recommended that BNM consider extending this cooling-off period in appropriate cases to protect consumers better,” he said. — Bernama
