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60 duped in gold bar scam <!-- TITLE : end--> <!--
Victims only realised they were cheated after the people in charge of the scheme absconded. -NST --> </td> </tr> <tr></tr><tr> <td colspan="2" align="left" valign="top" width="550"> <table> <tbody><tr> <td> <table> <tbody><tr><td>
</td> </tr> <tr><td class="content_subtitle" align="left"> Wed, Feb 10, 2010
New Straits Times </td> </tr> </tbody></table> </td> <td align="right" width="400">
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GEORGE TOWN- Some 60 people here are believed to have been duped last year by a gold bar investment scam worth a staggering RM25 million (S$10.3 million). One of them, a woman, had lost RM3 million (S$1.24 million) after the investment company terminated its operation abruptly.
State Commercial Crime Department police chief Assistant Commissioner Roslee Chik said the victims only realised they were cheated after the people in charge of the scheme absconded. He said the investors were entitled to three per cent interest annually which was paid upfront once they put their money into the scheme.
"The victims could not resist the attractive offer and signed up without second thought. It was too good an offer to turn down," Roslee said, adding that the victims were mainly from the high income group and consisted of those between 40 and 60 years old. The minimum investment was about RM135,000 (S$55,775).
Police have so far picked up three suspects from Penang and Kuala Lumpur to assist in investigations. All have been released on police bail. Roslee said at least 10 suspects were involved in the case, with the mastermind still at large and believed to be in Kuala Lumpur.
In an unrelated development, Roslee said at least 32 people lost RM300,000 (S$123,952) last year after they gave their personal details to unauthorised Internet websites. The victims were all from Penang and had since lodged police reports.
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60 duped in gold bar scam <!-- TITLE : end--> <!--
Victims only realised they were cheated after the people in charge of the scheme absconded. -NST --> </td> </tr> <tr></tr><tr> <td colspan="2" align="left" valign="top" width="550"> <table> <tbody><tr> <td> <table> <tbody><tr><td>
New Straits Times </td> </tr> </tbody></table> </td> <td align="right" width="400">
</td><td>
</td></tr> </tbody></table> </td> </tr> <tr><td colspan="3" class="bodytext_10pt"> <!-- CONTENT : start -->
GEORGE TOWN- Some 60 people here are believed to have been duped last year by a gold bar investment scam worth a staggering RM25 million (S$10.3 million). One of them, a woman, had lost RM3 million (S$1.24 million) after the investment company terminated its operation abruptly.
State Commercial Crime Department police chief Assistant Commissioner Roslee Chik said the victims only realised they were cheated after the people in charge of the scheme absconded. He said the investors were entitled to three per cent interest annually which was paid upfront once they put their money into the scheme.
"The victims could not resist the attractive offer and signed up without second thought. It was too good an offer to turn down," Roslee said, adding that the victims were mainly from the high income group and consisted of those between 40 and 60 years old. The minimum investment was about RM135,000 (S$55,775).
Police have so far picked up three suspects from Penang and Kuala Lumpur to assist in investigations. All have been released on police bail. Roslee said at least 10 suspects were involved in the case, with the mastermind still at large and believed to be in Kuala Lumpur.
In an unrelated development, Roslee said at least 32 people lost RM300,000 (S$123,952) last year after they gave their personal details to unauthorised Internet websites. The victims were all from Penang and had since lodged police reports.
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