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Singapore police arrested a 49-year-old woman in August for promoting Fun Coffee, a multi-level marketing scheme offering unrealistic investment returns through cryptocurrency. The operation has defrauded victims across Asia.
A Chinese businessman has lost his RM110 million lawsuit against a property developer and marketing firm, after claiming misrepresentation regarding the intended use of 51 luxury residential units he purchased.
Prime Minister Anwar Ibrahim has warned that Malaysia cannot rely wholly on auditors, pointing to the eFishery case where three major audit firms approved KWAP's RM163.4 million investment but missed fraudulent activities.
Three brothers have been charged across separate Sessions Court proceedings in Kuala Lumpur for conducting unlicensed capital market activities, according to an announcement by the Securities Commission.
A former company director has been sentenced to five years imprisonment by the Kuala Lumpur Sessions Court for operating an unlicensed fund management business and laundering money, with six victims losing a combined RM1.263 million.