United in despair: More than 50 scam victims gathering to speak about the vending machine investment scheme that had defrauded them of more than RM5mil combined. — CHAN TAK KONG/The Star
KUALA LUMPUR: A former cleaner who withdrew from her Employees Provident Fund (EPF) savings to invest in a vending machine scheme is among 54 people now in despair for having lost a total of around RM5.2mil.
They had put in between RM1,000 and RM450,000 since 2023, believing they would get good returns.
The investors were offered three investment packages. The first one required them to purchase a vending machine for RM32,000 and sign a contract of three years with promised returns of RM1,300 a month.
Another option was a RM25,000 investment with a profit of RM1,000 each month.
The third package required a minimum RM1,000 investment with a guaranteed 4% return.
For the first package, investors could buy more than one vending machine, which would require a bigger investment.
A 60-year-old former cleaner, who only wished to be known as Priema, said she and her husband lost about RM80,000 investing in the drinks and snacks vending machines.
“I learned about the investment scheme via YouTube and I thought it was legitimate,” she said.
She withdrew about RM50,000 from EPF and started investing in December 2023.
“I got more than RM9,000 in returns and felt confident of the investment so I asked my husband to invest as well.
“He ended up putting in RM30,000,” she told a press conference yesterday organised by the group, Malaysian Humanitarian Organisation.
Priema said their investments were sound for a few months, but then the returns stopped.
“Now all of our savings are gone. I am even having trouble paying my house rent,” she said in between sobs.
Another investor, identified only as Adrian, said he was approached by a friend to join the scheme.
“They offered three investment packages that cost between RM1,300 and RM32,000.
“Because of the low capital involved and promises of good returns, I decided to invest in March last year.”
Adrian said he put in almost RM80,000 and had received about RM6,000 in returns.
“However, since July last year, the returns stopped coming in. When I asked the agent, he claimed the company was experiencing cash flow problem,” he said.
A teacher from Melaka said she lost more than RM40,000 to the scheme.
“I have yet to see a single vending machine. Now I am at least RM40,000 poorer,” she said.
All 54 victims have lodged police reports.
When contacted, Bukit Aman Commercial Crime Investigation Department director Comm Datuk Seri Ramli Mohamed Yoosuf said police have opened five investigation papers.
“We received more than 50 reports on the scam last year. The cases are still being investigated,” he said.
