Displaying items by tag: investors tricked

An Indonesian woman known as Suzy has reportedly lost over RM4 million (£700,000) to a Malaysian-based foreign currency investment scheme. She began investing in 2020, and received a 20% annual return in 2021 and 2022. However, the company cited licensing issues last year and ceased dividend payments, leaving her unable to access her funds. She has now filed a police report, joining 69 others from Singapore, Indonesia, and Brunei. An expert said that the scheme had resulted in estimated losses of RM100 million (£17.5 million) for over 500 Malaysian locals. He urged authorities to take this cross-border case seriously and take action to protect the country's good name from being seen as a fraud syndicate hub.