MALAYSIA Tanah Tumpah Darahku


Saturday, December 31, 2022

100,000 victims conned in investment scheme, claims group


About 40 of the investment scheme victims outside the Sentul district police headquarters after lodging the police report against the syndicate.

KUALA LUMPUR: A group of victims lodged a report at the Sentul district police headquarters, claiming that a syndicate running an online investment scheme known as M5301 had cheated them of millions of ringgit.

Jaringan Sahabat Malaysia president Radzi Abdul Rahman, a spokesman for the 40 victims who made the report, said the syndicate has been carrying out fraudulent activities throughout the country since 2015.

“Besides the 40 victims, the syndicate has successfully deceived approximately 100,000 victims throughout the country, including in Sabah and Sarawak based on data we have collected.

“This has resulted in victims losing millions of ringgit. The syndicate is still very active via many WhatsApp groups, collecting money from old and new members,” he said at a press conference.

FMT has reached out to the police for confirmation.

Radzi pointed out that the victims had tried to reach out to the top managers of the investment fund to prove its authenticity but failed to get any response.

He urged the police and the Malaysian Communications and Multimedia Commission (MCMC) to take further action, pointing out that the victims had submitted the names of the syndicate operators to the authorities.

He also said the NGO would submit a memorandum to Bank Negara Malaysia and the MCMC on Tuesday. - FMT

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