Malaysia needs vacancy tax, structural fixes to tackle housing overhang
Malaysia must adopt targeted measures, including a vacancy tax, to tackle its persistent housing overhang
JOHOR BHARU: A married couple was arrested after victims reported that they were cheated via property auction involving losses of RM400,000.
State Commercial CID chief Asst Comm Mah Khye Beng (pic) said the 36-year-old wife was arrested at 1pm on April 27 and her husband, 34, was detained at 9am on April 29 in Paloh, Kluang.
"Their modus operandi was to convince the victims to invest in an auctioned house, promising returns along with their invested capital.
"They were arrested to assist with investigations involving a business registered as Takzim Properties in Johor Baru. They were believed to have been active since the end of 2015,” he said in a statement here.
ACP Mah said the case was investigated for cheating.
"So far we have opened six investigation papers from Johor and three from outside of Johor for cases related to this couple,” he said.
ACP Mah urged the public not to believe any form of investment that promises immediate returns and to do background checks thoroughly before proceeding with investments.
He said others who fell victim to such cases should lodge a police report.
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