Six businessmen at wits' end after failing to get back RM1.14mil investment

Several of the businessmen showing the police reports during the press conference.

IPOH: Six businessmen are at their wits' end after not getting back their investment of nearly RM1.14mil made to a glove supplier in Selangor.

Shaharizad Shahrul Asmawi, 39, representing the group, said the six had invested with the company sometime in March last year.

He said according to the agreement, the owners - a couple in their 50s and 60s - had told them that their money would be returned with interest within 40 days.

Shaharizad said as their date approached, none of them received anything.

“When we called the owners, they kept giving excuses that went on until August last year, before they handed us cheques that later bounced.

“Unable to tolerate their behaviour any longer, we all lodged individual police reports in Perak and Selangor, after which the supplier returned RM20,000 each.

“After that episode, they blocked our phone numbers, and when we went to their office, we were unable to locate them,” he told a press conference Wednesday (June 29).

They showed the media the police reports lodged.

Shaharizad said the couple had been attending functions, opening more businesses, and even giving out donations, but were unable to return their money.

“We don’t want others falling for their trap.

“The six of us had to borrow money from other people as well for the investment,” he added.

Shaharizad said they would be initiating legal action against the couple and the company soon.

“We are all on the losing end, and the couple are enjoying life as if nothing has happened,” he said.

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