SIBU: The National Consumer Foundation is urging a Kuala Lumpur-based company to return all funds collected from investors or further action will be taken.
"I want to advise the company to quickly return the money to investors within one week – if not, we will take further action," said its president Datuk Mohd Firdaus Abdullah after a seminar on Challenges of Consumers in Investment on Thursday (July 28) here.
He added that they would work with relevant authorities to initiate action against the company if it refuses to return the money to investors.
Firdaus, however, declined to reveal the name of the company.
"We have all of the company's data and we know who they are. The company is based in Kuala Lumpur and it does not have a license to collect deposits," he added.
According to him, more than 3,000 people in Sabah and Sarawak have invested a total of RM50mil in the company since 2015.
"Investors lodged police reports after they did not receive dividends, yearly bonuses and other things promised. They have asked the company to return their money but the company has not given them any feedback," he said.
Firdaus said they are taking the case seriously and will institute legal action to recover the investors' money.
