‘Datuk’ behind two zero-risk share scams

TWO getrichquick syndicates launched a “share purchase with zerorisk” investment plan which is believed to have scammed people out of a huge amount of money within a short period.

China Press reported that the mastermind of the two syndicates was a Datuk who claimed that investors could get 50% revenue in seven months.

Investors were told that they could buy a share unit at US$2 (RM8) and the company would buy back it back from them at US$3 (RM12).

The Datuk also offered a high commission to those who recruited middlemen.

One middleman known as Liew Yi Wei, 27, said he learnt about the “investment scheme” through a friend.

Liew said he managed to get a Datin client to buy 120,000 shares.

The Datin and her husband signed an agreement in front of a lawyer and paid RM969,600 for the share purchase. Liew received RM27,000 in commission.

Subsequently, the Datin’s husband found out that the “company” was blacklisted for its getrichquick scheme and questioned Liew about it.

Liew said the CEO of the company, who claimed he was a Datuk, gave an assurance that he would buy back the shares.

“But when the payment was due in July, he gave all kind of excuses to defer the payment,” said Liew, adding that the Datuk later refused to pick up his calls or reply his text messages.

Liew, who claimed that he had lodged a police report, stressed that he was not part of the syndicate but a victim as well.

> Police have rescued three university students who were forced to work as prostitutes from a homestay in Ayer Keroh, reported China Press.

The students, aged between 18 and 20, were believed to have been controlled by two brothers who forced them to provide sex services from a unit in Ayer Keroh.

Malacca police chief Deputy Comm Datuk Ramli Din said police raided the homestay on Aug 26 and rescued the trio.

“Two siblings, aged 24 and 26, were also held,” he said.