KUALA LUMPUR: A total of 232 individuals have a lodged a complaint with the Securities Commission Malaysia (SC) against a scheme centred around Islamic Redeemable Preference Shares (IRPS).
According to Malaysia International Humanitarian Organisation (MHO) secretary Datuk Hishamuddin Hashim, the scheme's managers promised high dividends to the investors, but the scheme failed to deliver returns amounting to RM80mil in losses for the victims.
Speaking to reporters outside the SC headquarters, he noted that the scheme gained credibility through the involvement of prominent figures who held positions within the firms, leading many to believe the investment was legitimate.
Hishamuddin said formal complaints have now been submitted to the SC, with MHO calling for a full investigation. - Bernama
