Property consultant fears for family's safety after investment deal goes sour

  • Nation
  • Wednesday, 14 Aug 2019

Teng Hwa Lin (left) showing photos from his CCTV showing the thugs inside his house. With him is Tan Chee Chong

IPOH: A property consultant fears for the safety of his family after a friend allegedly sent gangsters to his house over an online foreign exchange investment scheme that had gone awry.

Teng Hwa Lin, 49, said his friend of five years had given him US$60, 000 (RM240, 000) to invest in the scheme based in Australia in March 2016, and he would bank the profits into his friend’s account.

Teng said in October 2017, however, the company running the scheme wound up, and his friend was upset and insisted that he (Teng) pay him back what was invested.

The father of four children, including one disabled child, said beginning May last year, he had been banking in money monthly into his friend’s account, and in April this year, had paid him almost RM296, 000, despite the investment only being worth RM240, 000.

“However, in May he told me that I was supposed to give him back RM500, 000, including the profits he was supposed to gain.

“If the company closes, how can it be my fault? Why am I liable to pay him back the profits?

“In fact, I am not even liable to pay him the deposit, because he willingly invested in the scheme.

“In May and August this year, he had brought gangsters to my house, and when I refused to open the door, they started yelling and kicking my front gate, ” he said, adding that two police reports over the incident had been lodged at the Tambun police station.

Teng was speaking at a press conference organised by non-governmental organisation Pertubuhan Minda dan Social Prihatin Malaysia (Minda).

Also present was Minda’s Chinese Affairs bureau chief Tony Tan Chee Chong.

Teng said if his friend was unhappy with the way the deal had gone, he could always hire a lawyer to sue him.

“Malaysia still has laws, and it is unnecessary for him to constantly harass me and my family.

“Last year, when I allowed him to come into my house, he started hitting the sofa and tables, and my children were all terrified, ” he added.

Tan said collecting money in such a way was definitely against the law, and what more with thugs involved.

“The person must stop threatening Teng on a daily basis by making numerous calls, and I hope the police will intervene as well, ” he added.

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