3,000 investors in Sabah, Sarawak want KL-based company to return RM50 mln

Mohd Firdaus (front row, sixth left) poses for a group photo with seminar participants.

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SIBU, July 28: More than 3,000 investors in Sabah and Sarawak are trying to recover more than RM50 million from an alleged investment scam by a Kuala Lumpur-based company.

Speaking to reporters after a half-day seminar titled ‘Challenges of Consumers in Investment’ today, National Consumer Foundation Malaysia president Datuk Mohd Firdaus Abdullah said the investors had since 2015 being demanding the company to return their money.

“The investors have lodged police reports after they did not receive dividends, 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.

In line with this, the foundation is urging the company to do so within one week or face further action.

“I want to advise the company to quickly return the investment money to the investors within one week, if not, we will go for further action,” he warned.

He added the foundation would work with the relevant authority using whatever laws to institute action against the said company if it refuses to return the investors’ money.

Mohd Firdaus however declined to reveal the name of the company.

“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 the licence to collect deposit,” he added.

The foundation, he said, is taking the case seriously and will implement action to recover the investors’ money. — DayakDaily