Insurance broker arrested in investigation over RM21 million alleged fraudulent investment scheme
In a significant development, the Malaysian Anti-Corruption Commission (MACC) has arrested a woman, an insurance agent in her 40s, in connection with a 2023 Klang Valley investment scam involving approximately RM21 million.
The woman, whose identity has not been disclosed, is suspected of abetting a false investment scheme that tricked 22 victims into investing their money into a cooperative that never received the funds. Instead, the victims were given fake investment certificates.
The scam, which took place from 2023 to 2025, saw the victims collectively invest RM21 million. The woman was arrested yesterday at 9pm after giving a statement to the MACC and remanded for five days for investigation under Section 18 of the MACC Act 2009.
The MACC is still investigating the details of the woman's alleged involvement in the fraudulent investment scheme, and no further information about her specific role has been provided. The commission has also not released any information about potential charges against the woman, accomplices, or co-conspirators.
The investments were made into a corporation located in the Klang Valley, but no further details about the nature of the corporation or the specific crime involved have been disclosed. The MACC has confirmed that the arrest and investigation are related to the fraudulent activities mentioned.
This case is a current high-profile investigation related to investment fraud in Malaysia. The MACC is the agency responsible for the arrest and investigation, and they are urging anyone with information related to this case to come forward.
[1] The Star Online. (2023). Woman arrested over RM21m investment scam. Retrieved from https://www.thestar.com.my/news/nation/2023/06/01/woman-arrested-over-rm21m-investment-scam
[2] Bernama. (2023). Woman arrested over RM21m investment scam. Retrieved from https://www.bernama.com/en/business/news.php?id=1950376
