GEORGE TOWN: Police believe at least two investment scam syndicates have planted their roots here with members now busy selling their “products” on social media.
Penang Commercial Crime Investigation Department (CCID) chief Asst Comm Mohd Rosni Mohd Lazim said one of them called the Brunei Investment Agency (BIA) claimed to have links to the Brunei government and its oil and gas-rich assets.
“The scheme also promotes foreign exchange where investors can deposit their money into the company.
“For the first time, investors will receive high dividends and once they are confident and make further investments, it is as good as over.
“It is very similar to pyramid schemes. Initial investigations found the company used ‘Brunei’ in its name but operated locally, ” he said in an exclusive interview yesterday.
ACP Mohd Rosni said so far 45 police reports had…