KUALA LUMPUR: A total of 485 reports with losses amounting to more than RM100 million in get-rich-quick schemes were lodged with the police as of June this year.
Bukit Aman Commercial CID Director Mortadza Nazarene said such cases continued to happen because the victims could be easily deceived with promises of high returns for their investments.
“The victims were promised interest rates or profits much higher than those offered by licensed financial institutions,” he told a media conference at Menara 238 here today.
He said some of the get-rich-quick schemes were the pyramid and ponzi schemes.
In the latest case, he said police crippled a get-rich-quick investment company known as “Highway Group” with investments estimated at RM35 million.
In 2014, 289 cases, involving RM53 million in investments, were reported and the number increased to 591 cases with investments valued at RM134 million last year.