Yesterday, Malaysia Police have issued a warning to the public to be wary of a fraudulent investment syndicate operating under the name 'Federal Reserve Chicago Bond'.
A total of 7,600 individuals have become victims of the fund investment fraud syndicate involving losses of over RM90 million in the country.
Bukit Aman Commercial Crime Investigation Department (Investigation) deputy director Datuk Tajudin Md Isa said initial investigations revealed that the suspects deceived the victims who are mostly locals.
"The victims were promised high returns for every investment done, unfortunately the victims never receive any profits promised after they made an investment," he said in a statement here Thursday.
Tajudin said the police was in the process of tracing other individuals after the existence of this syndicate was detected.
Hence he urged members of the public with any information on these activities to come forward to assist in investigatons or contact directly investigating officer DSP Nooranita Ismail at phone line 019-4814459 or 03-26101222.
He said the case was being investigated under Section 420 of the Penal Code for cheating.
Source: Bernama
The Federal Reserve Bank of Chicago (informally the Chicago Fed) is one of twelve regional United States Reserve Banks that, along with the Board of Governors in Washington, D.C., make up United States Central Bank.
I have wrote my article about US Federal Reserve Scam since 2011, I think the story the scammer use today is still the same. You can read my old article about it; US Federal Reserve Bond Scam.
