Netizen 24 MYS: Police to charge scammers responsible for RM10.5m fraud (Updated)

By On January 11, 2018

Police to charge scammers responsible for RM10.5m fraud (Updated)

Fri, Jan 12, 2018

  • Local
  • World
  • Business
  • Sports
  • Style/Life
    • Style
    • Showbiz
    • Reviews
    • Health
    • Food
    • Parenting
    • Tech
    • Travel
    • Next Gen
    • Going Viral: Is It True?
  • Opinion
    • Archive
      • Balan-ced Views
      • Just Johor
      • Let's Get Real
      • This N That
      • On My Mark
    • Beyond The Wall
    • Citizen Nades
    • Down2Earth
    • CR Talk
    • Egalitaria
    • Freespace
    • Inside Write
    • Know Your Rights
    • Law Speak
    • Letters
    • Local Counsel
    • Just Different
    • Making Sens
    • My View
    • Off The Cuff
    • OnPointe
    • On The Ot her Hand
    • Policy Matters
    • The A to Z of English
    • TheSun Says
    • Wildlife Matters
    • Others
  • Property
    • Property Archive
  • Education
    • Education
    • Post Grad
  • Media & Marketing
  • Community
  • Photos
    • Photo Gallery
    • Photo Wall
Police to charge scammers responsible for RM10.5m fraud (Updated)

KUALA LUMPUR: Three members of a scam syndicate, that falsified real estate documents to obtain about RM10.5 million in loans from seven banks, are expected to be charged in court for cheating and related crimes tomorrow.

Federal commercial crimes investigations department (CCID) director Commissioner Datuk Amar Singh said today that the syndicate members had posed as buyers and sellers of real estate to apply for loans for various properties using false documents with the banks and financial institutions b etween 2015 and 2016.

Police received 12 reports after the losses were discovered and have to date held 13 people from the syndicate as part of initiating investigations.

Amar Singh said investigation papers were submitted to the Attorney-General's Chambers for perusal, before receiving the green light to charge the three.

He said the suspects will be charged under the Penal Code for cheating, fraudulently concealing or removing a property to demand or claim for it, and dishonest misappropriation of a property.

Amar Singh advised banks and financial instititutions to beef up their financing protocol and to ensure the authenticity of documents submitted by loan applicants.

He said banks should also verify the existence of such properties and the identity of its real owners.

Related articles

  • Contributors, syndicates coll aborating in fraudulent EPF withdrawals - PPIM
  • Police detain a man suspected of being involved in property scam syndicate
  • 700 over-the-phone cheating cases involving RM21m reported
  • Ministry asks media to publish only licensed property ads
  • Association of Banks in Malaysia denies Rehda’s claims


EXCLUSIVE STORIES

  • 2 CHARGED
  • ‘Let them go to school’
sentifi.com

thesundaily_my Sentifi Top 10 talked about stocks

Opinion

Football Fixtures & Results

'); $('#ad-skin').css({ 'background':'url('/sites/default/files/theSun-ePaper-Skyscrapper_J.gif') no-repeat center top', 'display':'block', 'height':'100%', 'width':'100%', 'position':'fixed', 'left':'0', 'top':'0', 'z-index':'0' }); });Source: Google News

Next
« Prev Post
Previous
Next Post »