Five investors lodge police reports against forex firm

SHAH ALAM: Five people have lodged police reports against a forex investment company after claiming that they have not received returns on their investments involving up to hundreds of thousands of ringgit.

One of the investors, restaurateur Kholijah Kasim, 48, said she gave her friend, an up-line in the company, RM76,000 in five different transactions in November and December 2015.

“I had attended the briefing with my husband twice in Shah Alam and Ampang, both of which were conducted by the company’s founder who is a Datuk.

“They showed us how the company had diversified its businesses and everything was presented in an impressive manner.

“We were convinced and decided to give it a try,” she said outside the Shah Alam district police headquarters here yesterday.

Based on the investment package she had signed up, Kholijah told reporters that she was supposed to receive RM3,800 monthly in passive income starting from the end of December 2015.

“However, the payment was delayed and I only received RM5,000 in February last year after I questioned my up-line many times,” she added.

She became worried when she found out from other investors later that the company had been having problems in giving out the returns to them even before she and her husband joined the scheme.

After failing to receive her monthly returns, Kholijah and several of the other investors decided to lodge a report in August last year.

But she said no action was taken against the company’s management. Yesterday’s police reports here were the second they had made.

Her husband Burhanordin Haiking, 46, said there were about 15 of them in the group which had connections with the up-line.

“Our group’s total investment is estimated to be over RM1mil.

“Whenever we asked about our outstanding monthly returns in the chat group, the up-line kept delay- ing, saying the company will address us.

“Later, the company’s management held a meeting with us at a hotel and they promised to pay up. But until today, nothing has happened,” he said.

Burhanordin claimed the up-line also quit the group and disappeared.

He was upset to find out that the company founder and another high-ranking company official had founded another company with similar investment schemes and packages in another state.

“That is why we decided to gather whoever we can from the group and tell our story, so that people are aware of dodgy investment schemes like this,” he added.