Police have dismantled a suspected online investment scam syndicate after arresting 28 foreign nationals in Bandar Sri Indah here, believed to be targeting South Korean victims through fraudulent stock investment schemes.
Tawau district police chief Jasmin Hussin said the suspects comprised 27 Chinese nationals and one Vietnamese national, aged between 21 and 51, including two women.
He said the syndicate is believed to have been operating from a residential house that was also used as a workplace and training centre for carrying out online scam activities.
According to police, the group allegedly used various instant messaging platforms to carry out investment fraud involving non-existent stock schemes.
During the raid, authorities seized 33 mobile phones, three laptops and two internet modems, with the total confiscated items estimated to be worth about RM50,000.
All suspects have been remanded for four days to assist investigations under Section 420 of the Penal Code for cheating and Section 120B for criminal conspiracy.
Police are now working to determine the roles of each suspect, the full extent of the syndicate’s network, the number of victims involved and the total financial losses incurred.
Authorities have also urged the public to remain cautious of unsolicited investment offers and to verify all financial opportunities before making any transactions.
