Don't be easily duped by investment scams, says Johari

Second Finance Minister Johari Abdul Ghani has reminded members of the public not to be easily duped by investment schemes offering high returns, but instead to think of its implications to prevent them from becoming victims.

"The first thing they (public) should do when someone approach and offer them (high) returns of 20 percent is to immediately lodge a report to Bank Negara (Malaysia) or the police. Getting 20 percent after investing for a month, there's no logic to that... It's a scam.

"Now, the problem is when they (victims) get the 20 percent, they remain silent... They only make noise when they don't receive the 20 percent," he told reporters after presenting awards to 333 students from 45 schools in the Titiwangsa constituency for their outstanding achievements in public examinations last year, at SJK(C) Tsun Jin in Kuala Lumpur yesterday.

Johari was commenting on the issue involving the Penang-based money game firm JJ Poor to Rich or JJPTR, one of the biggest money game operators in the country, which its accounts were reportedly hacked causing losses of RM500 million.

In a video uploaded on JJPTR Malaysia Facebook page, its founder, Johnson Lee, 28, said he had planned to return the money to his investors in the middle of May.

Johari said the public should always be cautious of any offer which deemed 'too good to be true' and to verify with the authorities first.

- Bernama