388 Victims, Including Lawyers and Teachers, Lose Over RM104 Million in Forex Scam
12/9/20241 min read
Lawyers, teachers, bank employees, civil servants, and retirees are among 388 victims of a fraudulent forex investment scheme, losing RM104.75 million between 2016 and 2023. Victims invested large sums, trusting the company due to monthly financial statements, but could not withdraw their funds. Some even used these statements to secure loans. Affected individuals, including Jie and Yan, faced personal hardships, selling assets or incurring debts to join the scheme. MHO Secretary-General Datuk Hishamuddin Hashim revealed that victims were from various countries, and the company falsely claimed to employ expert traders while illegally collecting deposits. Authorities are investigating the case.
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