Chairman of the MaPeR Action Group, Shah Abdul Malek.
KUALA LUMPUR: The victim of an investment scam involving a businessman with the title Datuk, involving losses of up to RM1 billion, is asking other investors who were deceived to come forward and file a report with the authorities.
The businessman involved is also currently under investigation by the Malaysian Anti-Corruption Commission (MACC) after being arrested through Op Fibre conducted by the Special Operations Division (BOK) on suspicion of being involved in money laundering worth approximately RM75 million.
Chairman of the MaPeR Action Group, Shah Abdul Malek, said the scam involved British investors along with 10 investors from Malaysia who have submitted an official complaint to the MACC against the businessman involved for defrauding them of more than RM66 million through a fraudulent scheme masterminded by the businessman and his syndicate.
According to him, hundreds of individuals and corporate companies, including government agencies, fell victim to the investment scheme.
"Their fraud network reached almost RM1 billion, including an investment by a UK entrepreneur, Lee Rodger Meiklejohn, totaling almost RM60 million," said Shah in a press conference in Kuala Lumpur on Oct 8.
"Based on records, it was found that several state government agencies and government-linked companies, including an orphan welfare association and an Islamic research institute, may have been victims of a fraudulent scheme linked to the individual involved," he added at the press conference.
Shah said many victims were deceived by the businessman's agents, who posed as bank employees by offering retail investment schemes that were supposedly approved by the Securities Commission and 'guaranteed' by insurance.
"Some were also deceived because several prominent businessmen with the title of Tan Sri were linked as board members and major shareholders of the companies involved.
"Government agencies are believed to have been deceived due to the involvement of a former senior federal official who acted as a proxy for the Datuk involved," he said.
Meanwhile, Lee Meiklejohn said he was a victim of fraudulent activities between October 2010 and April 2011.
"Despite making many follow-ups and submitting strong supporting documents, his case has not shown significant progress, and he hopes that this case can be resolved soon.
"I was a victim of fraud by the suspect between October 2010 and April 2011 with an investment of £10 million equivalent (RM60 million) after being introduced by a broker in Edinburgh, UK in August 2010.
"While trying to convince me to invest, the suspect encouraged me to invest in the company using some information that was later found to be false and false representations," he said.
Maper's Shah also reminded all at the press conference that hundreds of individuals and corporate companies, including government agencies, are believed to be victims of the investment scheme.
"Most of the victims were deceived by agents of the individuals who posed as employees of local banks by offering retail investment schemes that were supposedly approved by the Securities Commission and guaranteed by insurance," he added.
