19 Chinese nationals lodge report against Monspace

KUALA LUMPUR: Some 19 Chinese nationals have lodged a report against a multi-level marketing company, claiming they allegedly lost hundreds of thousands of ringgit.
They claim to have lost between 100,000 yuan (RM62,536) and 700,000 yuan (RM437,754) since investing in the scheme by "Monspace" in March last year.
According to Selangor DAP committee member Ronnie Liu, most of the investors only realised they could have been scammed after a year of involvement.
He alleged that the founder of MonSpace used gimmicks to attract people to invest.
“The founder would talk about starting a new airline, and have all sorts of gimmicky events to attract people to join,” said Liu.
MonSpace came under scrutiny after the release of Bank Negara Malaysia’s (BNM) updated Financial Consumer Alert list on May 12 revealed several companies and websites which the central bank said were unauthorised to receive funds in Malaysia.
Wang De Xiang, 41, one of those who lodged a report at Dang Wangi district police headquarters, said they had hoped for big returns on investments.
He said he hoped that the relevant authorities would conduct further investigations on the scheme.
Founded in 2014, Monspace is listed as a multi-level marketing company, according to the Companies Commission of Malaysia.
When asked, KL police chief Commissioner Datuk Amar Singh said police will look into the matter soon.
"Let me look at the reports lodged and we will get back to you," he told a police press conference today.