Couple allegedly cheated of RM100,000 in latest forex trading scam

A couple were allegedly cheated of RM100,000 by the forex investment trading scam.


KUALA LUMPUR: More victims of the latest forex Investment trading scam have come forward to seek justice, after investing their money in an illegal investment scheme.

A woman, who only wanted to be known as Shima, who was allegedly cheated of RM100,000 claimed there were more culprits like the couple who cheated and fled the country after their illegal investment scam got flagged, still openly recruiting new investors.

Shima claimed that these culprits were very cunning and creative and each time their scam gets busted, and the company blacklisted , they register a new company and start recruiting new members to invest.

Speaking of her experience, she said she and her husband turned to forex investment to make more money but were left poorer by RM100,000.

'My husband and I thought that investing in forex would bring us good returns," she said.

Shima said her husband who's a lecturer at a local university here had first tried investing in unit trust but the returns were small and took a long time to get any returns.

"That is when a friend introduced us to the plan (FX Forex).

"We became more trusting after we attended a seminar organised by the company where there were many big shots who shared their success stories. We fell for it and signed up," she said via a telephone interview.

Shima claimed that she and her husband had invested a total capital of RM100,000 within a year in stages every two or three months.

"We joined the plan sometime late 2015 and only started having doubts about the scheme after dumping in RM100,000 all together.

"Besides, our 12 per cent interest returns were also paid promptly every month until Sept 2016 which is when our Introducer Broker (JutaOne) started giving us excuses without crediting the due amount.

"Thank god I did not convince anyone to join the same investment, otherwise we would have been held responsible for their loss as well," she said.

She and her husband have lodged several police reports on their loss and on the company (JutaOne) but so far no action had been taken against the couple or the company.

"They are still happily pitching about the forex investment to potential victims, even on social media," she said, adding that the syndicate involved in the forex activity was big and its network was very wide, making it difficult for authorities to weed it out completely.

"Although three main suspects with Datuk title have been arrested, the scam will still go on because the couple is still out there recruiting new fools under a new company doing the same thing," she said.

Shima said she may not recover the money she lost but she hoped that others will be more careful when they plan to invest in any form of investment scheme.

It was reported yesterday that three Datuks were arrested in a series of raids in the city on Feb 10 for suspected involvement in a foreign exchange scam which was believed to have raked in RM1 billion.

The Federal Commercial Crime Department director Datuk Seri Amar Singh had revealed that three suspects between 35 and 49 years old, were arrested after police received a staggering 116 reports concerning losses totalling RM6.2 million from the syndicate’s activities nationwide.

He also estimated that there were 70,000 scam victims who incurred losses of around RM1 billion in relation to this specific company.

The three were detained under the Prevention of Crime Act (POCA) 1959.

The case was being investigated under Section 420 of the Penal Code and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLA) 2001.


Article From:-

Recent Articles:-

Rabbi, Several Others Arrested in Public Benefits Fraud Case

Alleged Mastermind of Jamaican Lottery Scam Pleads Guilty

Ex-bank official charged with stealing over $325K from elderly customers

Woman pleads guilty to using county funds to buy tuxedo for pug, Razorback tickets

Two jailed on fraud, theft charges

Caddo commissioner, sister indicted on federal fraud charges

Fort Smith Woman Accused Of Financial Identity Fraud

SCSO jailers arrested in check fraud scheme

Tax Fraud Blotter: A grand per dependant

Man Arrested For Using Debit Card Programmed with Stolen Account Information