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Bitter brew: Cops say sue over RM6.7m coffee machine scam
According to Bernama, the police received 101 reports related to the vending machine investment fraud, involving total losses amounting to RM6.7 million, from January to April this year.
State police chief Hussein Omar Khan said...
Summary
Police receive 101 reports involving RM6.7 million losses from a coffee vending machine investment scheme.
Deputy Public Prosecutor’s Office finds no grounds for fraud charges; victims advised to seek civil action.
Authorities urge the public to avoid unregulated investment schemes offering unrealistic returns.
After the Deputy Public Prosecutor’s Office determined that no fraud-related charges could be pursued, Selangor police are now advising complainants in the coffee vending machine investment scheme to seek civil recourse instead.
According to Bernama, the police received 101 reports related to the vending machine investment fraud, involving total losses amounting to RM6.7 million, from January to April this year.
State police chief Hussein Omar Khan said initial investigations found that the victims were enticed by detailed explanations and representations about the vending machine investment offered by the suspect, which allegedly promised high returns.
He said those who were convinced by the scheme proceeded to join the investment programme and made payments into bank accounts provided by the suspect.
“The victims were unsure whether the investment was legitimate. Initially, they received some returns, but over time, the payments stopped,” he said in a statement today.
The cases were being investigated under Section 420 of the Penal Code for cheating.
Hussein said the investigation papers had been referred to the Deputy Public Prosecutor’s Office, which decided that no charges would be filed under fraud-related offences.
In light of this, he advised the complainants to pursue civil action to contest any breach of the contract signed with the investment company and to recover their investments.
He also reminded the public to be cautious of investment schemes promising unrealistic returns, especially those promoted through financial apps or platforms not approved by Bank Negara or the Securities Commission.
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