The Malaysian Securities Commission (SC) has received reports from 500 victims who had cumulatively lost approximately RM1 million due to fraudulent investment schemes by mid-2023. These individuals have filed complaints, requesting that the Supreme Court investigate the alleged companies for criminal breaches of trust and fraud.
In a worrying event, 500 people have fallen victim to scammers running fake investment schemes, resulting in a total loss of approximately RM1 million. These victims have taken action by filing a formal complaint with the Malaysian Securities Commission (SC), requesting that they investigate the companies suspected of criminal breaches of trust and scamming innocent individuals.
On behalf of the victims, Datuk Hishamuddin Hashim, secretary-general of the Malaysian International Humanitarian Organisation (MHO), spoke. He disclosed that various investment firms tempted the public with high dividend rates and tempting returns, only to defraud them in the end.
Datuk Hishamuddin Hashim, the secretary-general of the Malaysian International Humanitarian Organisation (MHO), shed light on the deceitful techniques used by these unscrupulous companies during a news conference following the submission of the report to the Malaysian Securities Commission (SC). He disclosed that these con artists went so far as to use the names of famous people, such as celebrities, members of the royal family, former government officials, and religious figures, to fraudulently associate them with their fraudulent investment schemes.
Victims of these scams have invested considerable sums ranging from RM100,000 to millions of ringgit, according to Datuk Hishamuddin Hashim. Surprisingly, many of them used their hard-earned retirement assets and personal resources to join in these schemes, only to be duped and manipulated.
According to Datuk Hishamuddin Hashim, the Malaysian International Humanitarian Organisation (MHO) took decisive action in March 2023 by filing a police report at the Sentul District Police Headquarters over this situation.
Harun Mohd Yunus, 63, one of the victims, said that he received more than RM6,000 for four months in a row after entering an investment scheme in October 2021. However, the situation deteriorated when he stopped receiving payments. After being promised a return on his money in two months, he was left empty-handed.
Anisa Talib, a housewife, recounted her heartbreaking story about losing more than RM100,000 from her and her children’s savings. The scammer not only took her hard-earned money, but it also caused her health and domestic troubles, adding to her anguish.
These human experiences emphasize the tragic consequences of falling victim to such fraudulent schemes, underscoring the critical need for action and justice.
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Many victims now feel that Herzen’s allegation of being hacked is really a stalling tactic, and that the true reasons for the scam are more complicated than hacking. Many investors are still waiting for a good response.
Fraudulent forex brokers use a variety of deceptive strategies, one of which is the promise of “high returns with low risk, effortless profits.” Unfortunately, many Malaysians have been caught up in this!
Is there, however, a free lunch in this world? Absolutely not!
If you want to enter the forex market and earn extra money, you must utilize the proper procedures. You are their target if you are looking for instant wealth.