Wednesday July 18, 2012
Investment scam victims set up panel to seek
By JAROD LIM
PETALING JAYA: More than 100
people have come together to seek justice after
falling victim to an investment scam by an
international company based in Shah Alam.
They have set up an action
committee made up of victims from as far as
Singapore to look for ways to recover their
Kelana Jaya parliamentary
coordinator Ong Chong Swen said there could be
as many as 10,000 victims.
“We have received complaints from
other states like Perak, Johor, Selangor and
Malacca and Kuala Lumpur, and even from
Singapore and Iran.
“All of them have complained of
being cheated by the company,” she told a press
conference at her office here yesterday.
Action committee chairman Rudy Lim (left)
talking to reporters at the press conference in
Petaling Jaya. Looking on is Ong (second from
Ong said the scam was serious as
it involved a large sum of money and must be
She said the company was
established in 2005 selling a range of beauty
products and two years later, it started selling
energy pendants through direct selling.
In 2010, it invited agents to buy
an investment package costing between RM5,300
and RM7,500 whereby agents would receive 35
pendants to be sold to customers for RM595 each
as well as a promise of RM380 monthly returns
for 70 months.
A victim from Singapore, Angel
Yek, said she had bought the package in November
last year and went all out to introduce what she
believed to be a sound investment package to her
friends. Between them, they bought 99 investment
packages from the company costing more than
The committee did its own
checking and found that the company's direct
selling licence had expired in August last year.
To date, more than 450 police
reports have been lodged against the company.