Reports filed against VIP couple over alleged forex scam

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PETALING JAYA: A former MIC leader joined dozens of people in filing police reports against a foreign exchange company owned by a Datuk Seri and his wife, alleging they have not been given any returns on their investments, as promised.

R Ramanan, who was a treasurer-general of the Barisan Nasional component, held a press conference together with some of the victims of the dubious forex operation, after the reports were filed at the Dang Wangi district police headquarters yesterday.

“Police have done a fantastic job so far. But the problem here is that while you managed to get the ‘tail of the snake’, the head is still out there,” Ramanan was quoted as saying by The Star, referring to police saying on March 29 that six suspects, aged between 28 and 38, had been remanded for 21 days under Section 3(1) of the Prevention of Crime Act (Poca) in connection with a raid on the company.

The forex investment company was busted by the Bukit Aman Commercial Crimes Department on March 28 amid allegations which first emerged last year of the VIP couple being involved in a forex scam.

According to The Star, Rama­nan had also claimed the husband-and-wife team had even converted to Islam in 2013 in order to convince a Muslim investor to put RM55 million in their forex investment company.

About 20,000 investors were said to have put in a minimum of RM2,000 each into the forex investment company, promising daily returns.

Some of the investors told their story to the media after making their reports.

“I represent a group of about 700 investors. We lost about RM6 million since last year in the foreign ex­­change company founded by this husband and wife.

“He told me that the company was a registered company in New Zealand and that he had made around RM2.4 million from it,” Amy Salmiah Dahlan, 43, was quoted as saying. She said had been introduced to the company by a mutual friend.

Meanwhile, Sri Kumar, 42, told the media that there was some “decent returns” in the first few months, after he invested some funds in February last year.

“So I told other people about the investment company. But from August last year, I have not seen any returns. I invested about RM100,000,” Sri Kumar was quoted as saying by The Star.

Dang Wangi OCPD Asst Comm Mohd Sukri Kaman confirmed with the daily that the police had received the reports and that investigations were ongoing.