KUALA LUMPUR: Police have arrested two more people for their suspected involvement in the 'pa jewellery' and 'paddy jewellery' gold investment scam, which had raked up millions of ringgit in losses.
Federal Commercial Crime Investigation Department (CCID) director, Datuk Seri Ramli Mohamed Yoosuf, said the two men were arrested yesterday.
Their arrests came after the main suspect, Siti Hajartul Haini Abd Hamid, 37, was detained at the Penang International Airport upon arrival from Dubai last Wednesday.
"Further investigations are being conducted under Section 420 of the Penal Code for cheating," Harian Metro quoted him as saying.
Police had previously detained several people in separate raids in Kedah and Kuala Lumpur.
The four comprised three men and a woman, aged between 29 and 35.
"To date, we have received 69 police reports on the investment scam, with losses totalling RM48.5 million.
"Preliminary investigations showed that the investment scheme offered five different packages, with returns based on current gold prices," he said.
It is understood that police will hold a press conference on the issue tomorrow.
It was previously reported that more than 100 investors had cried foul after losing more than RM110 million after being duped by the investment scam two months ago.
Most of the victims, comprising government hospital staff in the Klang Valley and teachers in several states, are now being sought for acting as middlemen by collecting funds for the supposed investment.