Seven Foreign Nationals Claim Losses Exceeding RM31 Mln In Investment Scam

KUALA LUMPUR, April 22 (Bernama) -- Seven foreign nationals lodged reports at the Cheras District Police Headquarters here today, claiming that they have lost over RM31 million after being deceived by an international fraud syndicate.

Lawyer Andy Yeoh who represents the group of victims, said all of them were lured by an online investment scheme operated by a company known as “High Inspirations”, which promised a five per cent return on investment for each transaction.

“Our clients were introduced to this platform, which was purported to be legitimate and capable of generating consistent income for them.

“The investment scheme began operating in 2018 before the investors’ withdrawal facilities were abruptly halted starting September 2021, while the platform was fully shut down in August last year,” he told a press conference here today.

He said the seven individuals who came forward today comprise four Chinese nationals, two Taiwanese nationals and one Korean national, adding that more than 300 other victims intend to engage his legal services to recover their investments.

At the same press conference, a Taiwanese victim, Liu Chun Kuang, 58, said victims of the scam came from various backgrounds, including small business owners and employees who had invested their savings.

“We urge the Malaysian government to investigate this investment syndicate and help restore justice for the investors,” he said.

Meanwhile, Cheras District Police Chief ACP Mohd Rosdi Daud, when contacted, confirmed that they had received seven reports today from individuals claiming to be victims of the investment scheme.

-- BERNAMA