GEORGE TOWN: Twenty-five individuals have fallen victim to a fraudulent investment scheme, collectively losing about RM5mil.
The scheme promised enticing monthly returns of 10% but proved to be a scam.
One victim, businessman Ruzianzan Ibrahim, parted with RM40,000 after attending an investment talk in 2018.
“After receiving RM1,000 each month for six consecutive months, I became more confident about the scheme. That’s when I put in another RM30,000.
“There was no news after that. I only got back RM6,000,” he said after lodging a police report with the other victims at the Bayan Lepas police station yesterday.
Housewife Shahrija Nagore, 54, said a contractor who renovated her house introduced her to the scheme.
She invested RM45,000, which she inherited from her late husband, from 2018 to 2020.
“I was drawn to the investment because at that time, I was unemployed and a single mother.
“I felt that it was a good opportunity for me to earn a passive income to support my two school-going children,” she said, adding that she didn’t receive a single sen from the company.
Also present at the police station was Malaysian International Humanitarian Organisation (MHO) secretary-general Datuk Hishamuddin Hashim, who said the victims decided to lodge a police report after they did not receive what had been promised to them.
He claimed the investment was fraudulent and illegal as it was not approved by the Securities Commission.
Hishamuddin added that MHO had received 90 complaints about investment scams amounting to RM20mil in losses all over Malaysia.
