Forex Scam Worth Millions Busted in Malaysia by Local Police

[kreslik.news]

Three individuals from Malaysia have executed a forex scam worth over $1.6 million. The perpetrators of a Ponzi scheme were arrested in Kuala Lumpur over the weekend, local police reports.


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The scheme has been running between 2013 and 2016, using a website that was registered overseas to onboard victims from Malaysia. The practice is widely used by fraudulent entities that pretend to handle investor funds, as well as some unregulated fraudulent brokers.

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