159 Chinese Nationals Charged Over Alleged Crypto Investment Scam in Malaysia
A massive crackdown on an alleged cryptocurrency investment scam has resulted in 159 Chinese nationals being charged at three separate Magistrates' Courts in Johor Bharu, Malaysia.
The accused, aged between 20 and 58, were charged under Section 120B(1) of the Penal Code for allegedly conspiring to cheat victims through a non-existent cryptocurrency investment scheme. They also faced charges of being non-Malaysian citizens without valid passes or permits issued under the law to enter the country.
The alleged offence was committed at a premises in Jalan Forest City 16, Gelang Patah, Tanjung Kupang, Iskandar Puteri, on July 15. The courts imposed fines ranging from RM4,000 to RM10,000 on those who pleaded guilty to both charges.
Magistrate Atifah Hazimah allowed bail of RM7,000 with two Malaysian sureties for those who claimed trial, while Magistrate Shaarmini did not grant bail. The courts fixed mention dates between August 13 and August 24 for the cases involving accused who claimed trial, pending the submission of relevant documents.