Premises raided over money games
> Documents seized, bank accounts frozen in joint operation
KUALA LUMPUR: Enforcement officers of the Domestic Trade, Cooperatives and Consumerism Ministry raided 16 premises linked to e-commerce company MonSpace Sdn Bhd and its subsidiaries yesterday for allegedly running illegal investment or “money games” schemes.
In a joint operation with Bank Negara Malaysia (BNM), the Companies Commission of Malaysia and police, the raids in the Klang Valley began at 11.30am and ended at 5pm, sources said.
It was learnt that the raiding parties carted away documents, seized cars and froze bank accounts belonging to the company.
Among the premises raided was MonSpace’s headquarters in Bukit Jalil and the home of a director.
The case is being investigated under the Direct Sales and Anti-Pyramid Scheme Act.
The ministry is expected to hold a press conference today on the case.
MonSpace, which has been in business for several years, ran into trouble when 19 Chinese nationals lodged police reports against the company in May last year.
They alleged that they had lost hundreds of thousands of ringgit which they invested. Two weeks later, over 70 Chinese nationals made similar allegations.
MonSpace was subsequently blacklisted in BNM’s Financial Consumer Alert list.
The list consists of companies and websites which are neither authorised nor approved under the relevant laws and regulations administered by BNM.
The latest list consists of 291 companies.