Police Hunt Mastermind of RM2.3 Million Investment Scam

Police are tracking Mohd Ezman Zamani, 39, believed to be the mastermind of a preference shares investment scam causing RM2.3 million in losses. Since 2023, 279 reports have been lodged. Victims were lured through webinars promising high returns, which initially materialised before payments stopped. The National Scam Response Centre’s 24-hour hotline has received over 10,000 calls since going round-the-clock, with fraud reports making up 51%. This year, scam-related losses hit RM193 million, though only RM12 million was frozen.

Investment Scam

“Victims were promised dividend returns of up to 18% per annum… however, over time, various excuses were given, and the payments eventually stopped.” — Datuk Rusdi Mohd Isa

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