Get-Rich-Quick Schemes Cause RM845m Losses

Get-Rich-Quick Schemes Cause RM845m Losses

March 23, 2016 Scams 0

THEY use scantily-clad girls to “persuade” potential investors to make the right “investments”.

Some offer you all the food you can eat so that you will bring in even more customers to their “special outlets”.

And then there are the gold bars and gold coins and promises of huge returns on foreign exchange.

In this Starprobe report, we reveal how Malaysians are being lured into investment schemes that appear on the surface to be lucrative only to find out later that they have been cheated of their life savings.

The number of scams is on the rise, up nearly 27%, according to the authorities.

The Federal Commercial Crimes Division says 17,311 case files were opened last year compared to the year before with financial losses estimated at RM845mil. And despite the economic downturn, this trend is not showing any sign of abating.

Check out our special report as we go undercover at some of these “hotspots”. We also talk to the authorities, lawyers, concerned members of the public as well as those who have been involved in such businesses to get a clearer picture.

More Reports:
Losing All In Get-Rich Schemes

A Golden Investment That Sounds Too Good To Be True

Lure Of The Birds And Nest

Advice From A Fraud Lawyer

Investor Alert

Source: Article from the Star Online, 13 July 2009