SHAH ALAM, Jan 12 (Bernama) -- The police have arrested the owner and manager of a pet retailing business in Section 14 here today, for their alleged involvement in a feline investment scam in three states, involving losses of RM1.56 million.
Bukit Aman Commercial Crimes Investigation principal assistant director SAC S. Sasikala Devi said the two men aged 55 and 34 were at the premises during the raid, and they were arrested following police reports by 35 victims.
She said the two men were also believed to be responsible for disseminating information on the cat investment scheme since last year.
According to Sasikala Devi, the modus operandi of the scam was to deceive victims into 'purchasing' imported cat breeds to be reared in the shop, promising returns of up to 70 per cent from the subsequent sale of their offspring.
"Victims are duped into 'purchasing' imported breeds of cats, among them the 'Maine Coon', 'British Shorthair' and 'Pedigree' at prices ranging from RM7,000 to RM30,000 for mating with other types of cats at the premises.
"However, after a year, the victims did not receive the lucrative proceeds from the sales of the cats as promised, prompting them to lodge a police report," she told reporters here, today.
According to Sasikala Devi, two other branches of the company in Johor Bahru and Setapak, Kuala Lumpur were also raided today, however, the premises in Kuala Lumpur was found to have closed down two months ago.
"From the raid at the two premises (in Shah Alam and Johor Bahru), police seized various related documents, including reference certificates of the cat breeds, as microchips containing information regarding the cats involved were affixed to each animal.
"The police believe there are many more cat owners who have been deceived through this scheme, and the victims are advised to come forward to assist in investigating the fraud case, because it is understood there are several other branches of the pet shop, however, only victims from the three premises have lodged reports," she said.