20 Penangites lose RM3mil to 15% interest scheme

  • Nation
  • Monday, 04 Mar 2019


SOME 20 people in Penang who claimed to have invested a total of RM3mil in a scheme are hoping to get their capital back, Sin Chew Daily reported.

Only one of them managed to recoup RM49,500 from the investment after two years.

The woman, known as Chen Shu Ping, said they were drawn to the 15% monthly interest after being told about the scheme in January 2017.

Chen, who invested RM340,000 between January and March in 2017, claimed that three company founders even brought her to Vietnam to check out their investment in casino and holiday resorts.

“It was really convincing. We were told that we could get back our capital after two years in addition to the monthly interests.

“It has been two years and all my friends have gotten nothing. I was the only one who managed to get back RM49,000.

“We just want our capital back but the person who got me into the scheme did not even pick up my call,” she said at a press conference organised by the Penang Front Party.

Another victim Tai Chun Rong, 53, said he invested RM52,000 after being told about the huge interests.

“I was driven by greed, thinking that I could get back my investment after eight months.

“I know I was cheated when I did not receive the promised return after the first month. I just hope to get back my investment but chances are slim,” he said.

The above articles are compiled from the vernacular newspapers (Bahasa Malaysia, Chinese and Tamil dailies). As such, stories are grouped according to the respective language/medium. Where a paragraph begins with a >, it denotes a separate news item.

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