Melaka: Police have busted a non-existent stock investment fraud syndicate with the arrest of 31 foreign nationals during a raid on a house in the city area on Monday. Melaka police chief Datuk Dzulkhairi Mukhtar stated that the operation netted 30 Chinese nationals and one South Korean woman, aged between 20 and 40, in the raid at 4.30 pm, which uncovered 26 computer sets, 50 mobile phones, a router modem, and an internet port.

According to BERNAMA News Agency, investigations revealed the premises were being used to run a bogus stock investment scam targeting victims in Korea and China. Dzulkhairi explained at a press conference at the Melaka Contingent Police headquarters that the syndicate is believed to have been operating in Melaka for about two months. All suspects served as customer service officers tasked with hunting for victims via phone calls.

The syndicate's modus operandi involved luring victims through stock investment offers promising short-term high returns, with advertisements sent randomly via Telegram. Victims were then instructed to download an app to proceed with the investment, before being referred to other syndicate cells operating from different locations to complete the fraud.

The case is being investigated under Section 420 of the Penal Code, and all suspects have been remanded for four days from June 23 to 26. Dzulkhairi urged the public to alert police if they suspect any premises are being used for such illegal activities.

In a separate operation in Batang Tiga, Klebang, the General Operations Force arrested 13 Indonesians, including three suspected transporters. Interrogation of the three led police to a house, where a further 10 Indonesians, believed to be recent arrivals aged between their 20s and 40s, were picked up. The three transporters are being held under the Security Offences (Special Measures) Act 2012.