KUALA LUMPUR: Police have received 220 reports against an online investment scheme syndicate known as Zuttelo which has led to losses of about RM84 million since August.
Police secretary Noorsiah Saaduddin said the syndicate had been found to be actively carrying out fraudulent activities throughout the country for the past two years.
She said the company’s website was shut down in August.
“The scheme offered nine packages with total investment ranging from US$630 to US$12,700 with each investor being promised a minimum return of 16.5% per month,” she said in a statement today.
She advised the public to be vigilant and to carry out checks with official sources, including Semak Mule, Bank Negara Malaysia’s alert list, and the Securities Commission before signing up for such investment schemes that promised lucrative returns.