KUALA LUMPUR: Police have received 220 reports involving more than RM84.57mil in losses over the Zuttelo investment scam since August 2022.
Police Force secretary Deputy Comm Datuk Norsiah Mohd Saaduddin said the Commercial Crime Investigation Department (CCID) was currently conducting an investigation into the scam.
“Since August this year, we have already received 220 reports nationwide involving RM84,579,831.76 in losses.
“The case is currently being investigated as cheating under Section 420 of the Penal Code,” she said in a statement on Thursday (Dec 8).
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She said based on investigations, the syndicate began collecting investments from 2020 before its company website went offline in August this year.
“Our checks revealed the investment scheme offered nine investment packages ranging from US$630 to US$12,700 for each investment and investors were promised at least 16.5% profits monthly.
“Interested parties were made to register via an app downloaded through a website link and were given the option to either invest in money or cryptocurrency,” she said.
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DCP Norsiah urged the public to be cautious and conduct thorough checks via official channels such as the “Semak Mule” app, Bank Negara Malaysia’s Alert List and the Securities Commission before making a decision to invest in…
