Bukit Aman police secretary Noorsiah Saaduddin said those detained are Malaysians, adding that seven of them have been released and will be witnesses for the prosecution.

“Some of those detained are victims (investors) of the scheme but they also acted as agents. This means they also received a commission for introducing others to the investment scheme,” she said in a statement.

Noorsiah said the alleged mastermind of the scheme had been charged under Section 420 of the Penal Code and Section 137(1) of the Financial Services Act 2013.

A company director was also charged under Sections 109 and 420 of the Penal Code.

She said that since January 2021, Bukit Aman’s commercial crime investigation department had received 92 reports related to the investment scheme involving losses of RM17,547,414.

Noorsiah said the police had also frozen assets, including 27 bank accounts with a total value of RM700,533, and seized six vehicles estimated to be worth RM1,165,800 and 11,000,000 shares in four related companies.

She urged those who have fallen victim to the investment scheme to  file a police report.

Earlier, the Malaysian International Humanitarian Organisation claimed that about 300 victims of the investment scheme had not filed police reports as they were threatened by certain parties that they would also be arrested for their involvement.