Police nab son of popular guitarist over investment scam

Police detained the son of a popular guitarist on suspicion of involvement in an investment scam at Jalan Tun Razak here on Wednesday.

Bukit Aman Commercial Crime Investigation Department deputy director Datuk A. Thaiveegan said the 33-year-old man, who is the chief executive officer of the investment company, was detained at 5.15pm.

"The police also seized the company's investment-related documents that offer investment in beauty and health products in the name of the famous guitar player," he told reporters here today.

The company promised a profit of 20 to 30 percent a month with the minimum investment of RM3,000 and a total of 89 police reports had been lodged against the company involving losses amounting to RM1 million, he said.

He also advised the public to be extra cautious against investment scheme that promised unreasonably high returns in a short period of time.

-- BERNAMA