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KUCHING, Jan 27: Senator Robert Lau has urged the relevant authorities to immediately investigate the Quin Reward scheme after the e-rewarding platform owned by Quinton Group was plunged into crisis recently, causing investment refunds and merchants services to be suspended.
Lau raised this after being contacted by a few affected Quin Reward members who were unable to get their money refunded.
As worries loomed among many investors when the news broke yesterday and the Group’s supermarket chain Quin Mart stopped providing redemption services for the e-vouchers, he noted that investors had swarmed the shop to clear out its stock.
“Many people in Sarawak in general and Sibu, in particular, have invested in the Quin Reward scheme whereby the main attraction was the reward of up to 50 per cent discount for purchases from participating merchants.
“Investors would deposit money with the company in exchange for e-vouchers (discount points) that would then be used for purchases.
“The investors would get their money back after a certain period of time. The whole process was done online using the Quin Reward app,” he explained in a statement today.
Following the crisis, Lau said the investors or users are uncertain when they would get their money back while the points obtained from the money they invested could no longer be used now.
Concurrently, the participating merchants have also stopped providing redemption services for the e-vouchers.
“The authorities need to investigate immediately and take necessary action if and where any laws have been breached by this investment scheme,” he urged.
Lau also strongly advised the public not to be easily swayed by investment schemes that offer too-good-to-be-true rewards.
Meanwhile, the Quinton Group has issued a statement yesterday announcing that it has launched an “emergency mechanism” on the Quin Reward platform to restructure and reorganise all Quin Vouchers and Subsidy Vouchers.
The Group also clarified that the crisis mode was activated following alleged malicious attacks from certain parties that have disrupted and looted its ecosystem as well as caused many misconceptions and misunderstandings toward its business model.
The Group informed that they too have lodged a police report to clarify the untrue and baseless allegations against the organisation and will give full cooperation with the requirements of all relevant authorities.
While they mitigate the damages, the Group said all its businesses are still operating as usual. — DayakDaily