Bukit Aman police secretary Noorsiah Saaduddin said the police have received 42 reports in connection with the scheme, with total losses amounting to RM6,718,395.70.

“The police, through the commercial crime investigation department (CCID), are investigating the Sencapital investment scheme that has been active nationwide,” she said in a statement this morning.

Based on the investigation, the scheme was believed to be active since the end of 2022.

Noorsiah said interested investors were added to a WhatsApp group named “JP Morgan Business School” and asked to register and purchase shares offered on a website, http://sencapital.xyz.

The investors were then requested to transfer money to several different company accounts.

However, the website had been found to be inactive since February and the investors were unable to withdraw their money.

The case is being investigated under Section 420 of the Penal Code for cheating.

The police have advised the public to be vigilant and conduct detailed checks before signing up for any investment or savings schemes that promise large returns.

They also advise the public to obtain further details from official sources such as the “Semak Mule” online application, Bank Negara Malaysia’s Alert List, and the Securities Commission before joining such schemes.