60 Chinese investors protest outside multi-level investment company

15 May 2019 / 22:05 H.

GEORGE TOWN: A group of 60 Chinese investors staged a protest outside the office of a multi-level investment company here on Sunday to demand their money back.

A local community leader, who acted as a liaison for them, said all the investors wanted was to recoup their investments, amounting to about RM4 million.

The company is said to have a huge following in Malaysia and China. It had presented to its investors an ambitious portfolio of projects in the hospitality, retail and property sectors.

The company had allegedly promised its investors – known as “down-liners” – strategic investments in crypto currency and townships in the northern and central regions of Peninsular Malaysia.

The protesters had raised a commotion and caused a traffic jam until police arrived to ask them to disperse.

An associate of the company, when contacted, said “these people chose to invest in a business” and that “all investments come with risks”.

“Do you go and protest in front of a public listed company’s offices. When these people invested, did the company force them to do it? Regrettably many people want to be rich fast,“ the associate added.

The Domestic Trade, Cooperatives and Consumerism Ministry has advised the investors to lodge reports with the relevant authorities if they feel they have been cheated.

If they have proof that the company is operating a multi-level business, they should come forward, said Mohd Ridzuan Abdul Ghapar, the ministry’s Penang enforcement director.

He added anyone with a grievance could lodge a report with the relevant authorities, even if he is a foreigner.

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