QuickCheck: Are investment scammers now claiming that they have Companies Commission approval?

It has been alleged recently that scammers are using a new tactic; falsely claiming that their companies have been inspected by the Commission and that their prospectus have been approved.Speaking as a guest on the Selamat Pagi Malaysia TV show, Malaysia International Humanitarian Organisation secretary-general Datuk Hishamuddin Hashim said that syndicates are in fact making this false claim about their companies.

He said that they had only sent a memo containing information that did not include specific data or the funds that have been invested. “They create confusion. What is stated in the information memo is not the same as what is in the prospectus. This is what causes many people to be cheated because they are led to understand that a company has been approved by the Commission, when in fact it hasn't,” said Hishamuddin.

Hishammuddin then said that those who have been cheated should lodge a police report about the syndicate.

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