7 November 2023
Scammer has been operating his illicit activities for more than 15 years.
Several victims have come forward to expose an investment scam amounting to RM1 billion involving a local businessman with a 'Datuk' title.
One of the victims, a cosmetics businessman, said that he had fallen for the scheme which promised him valuable returns for investing money in credit lenders proposed by the Datuk.
He said that the Datuk had many tricks up his sleeve including his persuasive ways and mentioning names of influential parties in order to lure potential investors to invest in the companies.
"He promised to give us investment returns from my RM5 million investment, about 5% within six months but later on nothing happened. When we pushed him for clarity on our monies, he said that the company is unable to provide the returns and in the end we are left with nothing."
"He even threatened to report us to the Inland Revenue Board (IRB) for evading taxes from the investments we made."
"He ruined my life with the soaring burden of debt from money that disappeared and the consequences of false actions in court that caused me to be declared bankrupt."
Another victim was a businessman from the United Kingdom who was cheated from the same Datuk for about RM60 million 😱 from the investments made between 2010 and 2017.
He received a presentation from the Datuk about a promising company potentially acquiring a telecommunications company and that a 'Tan Sri' billionaire has a 30% stake at the company, to further strengthen the trust towards his scheme.
He was then told by the Datuk that any foreign investment must go through a local licensed financial company, and he made so to such a company owned by the Datuk.
However, the money was laundered and syphoned out of the said company.
Victims claimed that the Datuk is well protected by a Tan Sri who has influence in the government including the police, Malaysian Anti Corruption Commission (MACC), and also the Attorney-General's Chambers to end any investigations against the Datuk.
They are now seeking more victims to come forward in order for them to file a joint police report to further escalate the case in their favour.
"Our aim is to put a stop to his scam before others are affected by him."
(Source: New Straits Times)
Any legitimate investment must comes with an investment license an legal documents approved by Securities Commission.
Do not be fooled by high ranked or influenced individuals who can guaranteed or secured the so-called investment.
Be sure to deposit your funds direct into the investment & get documents from them.
DO NOT put all your funds into ONE investment & be sure that you have enough cash flow & emergency cash, in case the investment doesn't give you positive returns.