Over 1,000 people lose RM15m in get-rich-quick scheme

GEORGE TOWN: A get-rich-quick scheme company is alleged to have cheated more than 1,000 people of RM15 million by offering them special investment packages.
Today some 30 victims of the scam, gathered in front of the Northeast district police headquarters in Jalan Patani to lodge a police report against the company.
According to the group's spokesperson R. Kumaraguru Naidu, some 1,200 people from Penang fell victim to the scam.
"The scheme started about three to four months ago, some who joined earlier did get the return from their initial investment for one or two months.
"But the rest get nothing at all", he said after lodging a police report today.
One of the victims M. G. Subbiah, 76, said he invested more than RM4,000 but only received RM100 in return for his investment.
"First I invested RM350 in December, and then I was told there is a new package of RM3,500 where I can get RM800 in returns, but in the end I only received RM350 last year," he said.
Penang Gerakan spokesperson Ooi Zhi Yi who was present today, advised the public to be more cautious when investing in such schemes.
"Check first before you decide, you should investigate first," he said.
Attempts to contact the CEO of the company proved futile at the time of writing.