Thousands cheated of RM80m in forex scam

Some 23,259 investors have become victims of forex investment schemes with losses estimated to reach almost RM80 million, said the Bukit Aman Commercial Crime Investigations Department director Acryl Sani Abdullah Sani.

Acryl Sani said the matter came to light after the police received 408 reports on the schemes handled by a company known as VenusFX.

“Investigations found that the company lures unsuspecting victims to make a minimum investment of between RM2,000 to RM40,000 and that profit payments would be made on a daily basis.

“The investments were made in foreign exchange, but the profits promised were not paid. Following this, we launched ‘Operation Nuri’ to combat the activities in several locations in Kuala Lumpur, Pahang and Selangor,” he said in a statement.

Police had arrested five local men and a woman, aged between 28 and 38 years, in connection to the case, and they have been remanded for 21 days.