Man wanted for Rp 65b scam

Man wanted for Rp 65b scam

YOGYAKARTA: The city police have distributed the mug shot of a
man wanted in connection with an Rp 65 billion ($28 million)
scam.

The police move was taken after more than 60 people, mostly
business executives from Yogyakarta and Central Java, filed
complaints with the police saying that they had been cheated out
of their investments by the man, identified by Antara by his
initials EW.

According to the police, EW had been going around to many
business executives offering attractive returns of up to 18
percent a month on their investments in the transportation
sector.

He made good on his promise in the first two months, giving
them checks for their profits, but most of them were duped into
plowing their money back into the venture with promises of even
more financial gains. He then disappeared and was never heard
from again. (emb)