Seminar on Challenges of Consumers in Investment

SIBU (28th July 2022) Return money to the investors or action will be taken says National Consumer Foundation Malaysia’s president Datuk Mohd Firdaus Abdullah.

He gave this stern warning to a Kuala Lumpur based company who is alleged to have scammed more than 3,000 people in Sabah and Sarawak who have invested a total of RM50 million into the company since 2015.

“I want to advise the company to quickly return the investment money to the investors in given time one week.

“If not, we will take further action,” he said when met by reporters after the closing ceremony of the Challenges of Consumers in Investment Seminar yesterday.

Mohd Firdaus said the Foundation will work with relevant authorities to make sure action against the said company is taken if they refuse to return the money to the investors.

“We have all of the company’s data and we know who they are. The company is based in Kuala Lumpur and it does not have a license to collect deposits.

“The investors have lodged a police report after they did not receive the dividend, yearly bonus and other things promised to them.

“They have requested the company to return their money but the company did not give any feedback to them,” he said.

Firdaus said they are taking the case seriously and will work to recover the investors’ money.