GEORGE TOWN: At least 10 more money game operators have either gone bust or changed their business plans.
The latest is WMS Capital, a company that specialises in asset management and promises a 20% monthly return.
Members who were invited to join a WeChat group to learn about the company’s latest developments found that they had been removed from the group on Sunday.
Its office in Jalan Sultan Ahmad Shah has been closed since last Thursday.
A woman, whose office is adjacent to WMS Capital’s, said more than 20 employees had stopped coming to work there since last week.
She said the owners came to check on their premises in case it was damaged by disgruntled investors.
“Many investors have turned up at the office since Bank Negara announced a major crackdown on such operators recently.
“One of them even pasted a sheet of paper with the operator’s picture on the office door, urging them to return his hard-earned money,” she added.
Over the past few weeks, many people were seen loitering on the walkway outside the office, which opened after Chinese New Year this year, she said.
The company, said to be in operation since last August, has over 17,000 members in seven countries – Malaysia, China, Australia, Taiwan, Thailand, Myanmar and Singapore.
Investors can opt to invest between US$100 (RM430) and US$1,000 (RM4,330) or between 730 yuan (RM460) and 7,300 yuan (RM4,580).
It is learnt that investors can withdraw the principal at any time, but would have to pay 2% in processing fees.
In Bukit Mertajam, a check at the Change Your Life (CYL) office in Icon City found that it was closed with no employees around.
However, a peep through the window revealed a silver object resembling a toy gun left on a desk.
Several investors were spotted outside the office to check on the latest status of the company.
An odd-job worker who wished to be known only as Chan, 36, said he invested US$500 (RM2,170) about two months ago, but had not received any payment.
“I was told there would be weekly returns when I registered.
“I applied for a refund but after police raided the company, my upline said the company no longer had my record.
“I’m worried that I will lose all my money,” he said.
Money game operators first came under the spotlight when JJPTR claimed to have lost US$400mil (RM1.738bil) due to a purported “hacking job” on April 22.
Meanwhile, state Local Government Committee chairman Chow Kon Yeow said they could assist the authorities by taking action against premises used for money game activities.
“The police have to furnish us with the information as the council is an agency with limited jurisdiction,” Chow said at the Batu Lanchang Market yesterday.