KUALA LUMPUR: Nineteen Chinese nationals have lodged a report against a multi-level marketing company, claiming that they lost hundreds of thousands of ringgit.
They claim to have lost between 100,000 yuan (RM62,536) and 700,000 yuan (RM437,754) since investing in the scheme by Monspace last year.
Wang De Xiang, 41, one of those who lodged the report at Dang Wangi police station, said they had hoped for big returns on his investment.
He said he hoped that the authorities would conduct further investigations on the scheme.
Founded in 2014, Monspace is listed as a multi-level marketing company, according to the Companies Commission of Malaysia.
In an immediate response, Monspace said that it would take legal action against any group or individual making defamatory statements against it.
The company said in a statement to the media, that it was functioning professionally and it had engaged a law firm to keep track of statements made .