PETALING JAYA: An investment scam linked to the name Pantheon Ventures has resulted in losses exceeding RM14 million. According to Comm Datuk Seri Ramli Mohamed Yoosuf, director of Bukit Aman’s Commercial Crime Investigation Department (CCID), 35 investigation papers have been opened regarding the scam since July, with total reported losses amounting to RM14,959,416.76.
The victims, which include housewives, government employees, and lecturers, were misled into believing they were investing through a legitimate company. While there is a Pantheon Ventures that has existed in the UK since 1982, it has no affiliation with the fraudulent activities promoted on social media.
Investigations revealed that scammers instructed victims to transfer money to various bank accounts and download applications like ‘Nexus Equity’ or ‘Neeq’ to supposedly track their investments. The police suspect these accounts are mule accounts used for illicit transactions.
Comm Ramli noted that the scammers provided various excuses when victims attempted to withdraw their alleged profits. The scheme claimed to generate profits ranging from 8% to 23% weekly, based on markets in Malaysia, Taiwan, and China.