KPDNKK Denies Apologising To Get-Rich-Quick Firm, YSLM

PUTRAJAYA, July 10 (Bernama) -- The Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) has denied issuing an apology to YSLM on actions taken against the multi-level marketing company.

KPDNKK in a statement said stern actions would continue to be taken against activities of the company including arresting the company owner, Zhang Jian, 26, a Chinese national for further investigations.

"The rumour disseminated through social websites that KPDNKK has apologised and returned the goods confiscated to YSLM is not true," it said.

YSLM, a direct sales company is believed to be conducting business illegally in the country and is not registered with the Companies Commission of Malaysia (SSM) and did not have a licence from KPDNKK to conduct direct sales business.

According to the statement, initial investigations found Zhan, a self-proclaimed richest man in the world, came to Malaysia to set up a get-rich-quick scheme by offering investments as low as RM300 to obtain returns of RM2,700 to RM6,000 a month via online business.


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