KUALA LUMPUR, March 4 — By offering high dividends of up to 3.3 per cent a month and using corporate personalities had caused many investors to suffer more than RM100 million in losses after being duped into purchasing Islamic Redeemable Shares in a fraud scheme offered by an investment company since 2021.
“The company would convince investors by claiming that it is registered as a limited corporation with the Securities Commission and used the names of well-known corporate figures while offering dividends ranging from 3.1 to 3.3 per cent per month. MHO understands that the company has managed to trick more than 700 investors,” he said.
He also urged the authorities to take quick action against the company and added that a complaint will also be lodged at the Companies Commission of Malaysia and the Securities Commission Malaysia