A group of 107 investors suffered RM2.4mil in total losses after being allegedly duped by a married couple.
The losses suffered by each victim ranged from RM10,000 to RM250,000.
The victims were approached by the local couple regarding an investment in a dental service company, with the promise of high returns.
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The losses suffered by each victim ranged from RM10,000 to RM250,000.
The victims were approached by the local couple regarding an investment in a dental service company, with the promise of high returns.
Read more at https://shorturl.at/wGQT7
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
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NewsTranscript
00:00 A group of 107 individuals have lost RM2.4 million to an investment scam.
00:08 The amount of losses suffered by each victim ranges from RM10,000 to RM250,000.
00:14 The victims were approached by a local married couple on the prospect of investing in a dental service company with the promise of high returns.
00:23 One of the victims, 44-year-old Gerald Chee Ka On, said he lost about RM10,000 to the investment scheme.
00:30 In 2021, we received a message from this crowdfunding company that there is a project ongoing for Ocean Wells Horizons,
00:43 dealing with dental clinic services for crowdfunding for their business proposals.
00:51 So we, as investors, received the proposals and we put our money in this crowdfunding platform and they started the business plan.
01:02 Until year 2023, we received a message from the compliance officers saying that the director of Ocean Wells Horizons,
01:13 Sandia Berhad, has been missing in action. We found that this company has been sued and is under insolvency status.
01:23 Unable to trace, and we've been calling them for meetings through WhatsApp and they refused to answer, refused to come out.
01:32 Chee said barely two years into the investment, he discovered that both company directors were missing.
01:37 He said this during a press conference organised by MCA Public Services and Complaints Department Head,
01:43 Datuk S. Michael Chong at Wisma MCA in Kuala Lumpur on Friday.
01:48 Another victim, 43-year-old Teo Chek Wee, also said he lost about RM250,000 to the investment scheme.
01:57 The first year, some get it, some don't get it. And then the second year is the one they're already winding up the company.
02:08 A victim who only wished to be known as Ko said she wished to have the press conference to remind others not to fall to the same tricks.
02:16 Please come out. Don't be MIA anymore. This is what we hope that.
02:21 Meanwhile, Chong said he has received more than 10 investment scam cases with losses surpassing RM5 million since last year.
02:29 Please Google and see. Normally, a lot of things when they Google, they found that, oh, this company got a lot of complaints and all these things.
02:39 Google. And if the complaint not even exceed in the Google and all these things, then you all have to be careful.
02:47 So we have to. This is a basic what you call that knowledge. I mean, hopefully the public have to be aware.
02:56 So you see myself last year, I did not more than 10 cases still.
03:02 Cases still coming. He also reminded the public to conduct checks with Bank Negara and the police before deciding to invest in any investment schemes.
03:13 OK.