KUALA LUMPUR, June 21 — Over 100 victims who lost more than RM1 million to scammers running bogus investment schemes have provided further statements to the Companies Commission of Malaysia (SSM) for it to investigate companies suspected of embezzlement and fraud.
Representing the victims, Malaysian International Humanitarian Organisation (MHO) secretary-general Datuk Hishamuddin Hashim said he hopes the additional statements will help SSM further in its investigations.
He said there have been no arrests made since the complaints were filed in March, which is concerning for all the victims.
“With reference to Section 27A of the SSM Act, which provides for enforcement and investigative powers, the registrar (SSM chief executive officer) shall have all the powers of a police officer in all matters provided for in the proceedings.
“This means that the SSM has the power of arrest. They have police powers. You do not have to wait for the police. SSM can arrest even if it is an investment scheme which is not registered under the Interest Schemes Act 2012,” he said at a press conference at Menara SSM @ Sentral, earlier today.
Hishamuddin said any company director who runs an investment scheme without being registered with the SSM under the Interest Schemes Act 2012 can be imprisoned for 10 years or fined up to RM50 million.
This is the third step taken by the scam victims after they lodged reports with the police and Securities Commission (SC) in March and April respectively.
Most of the victims admitted they became interested in the investment schemes after the companies also used the names of celebrities, royals, former government officials and religious figures, who were found later not to be involved in the schemes.
The father of a noted athlete who wishes to remain anonymous said he lost RM150,000, after believing the investment scheme was a product of a local bank.
“The representative who introduced me to the investment scheme with returns of up to six per cent per month was actually a bank employee. I only received the bonus for the first three months and to this day I have not received any money,” he told Bernama.
— Bernama
