MonSpace is not an investment company, says founder

Jessy-Lai_MonSpace_600

KUALA LUMPUR: MonSpace (M) Sdn Bhd founder Jessy Lai has responded to claims that the organisation is involved in illegal investment schemes, saying that it is not an investment company.

“We are not an investment company. Rather, we are an e-commerce company, like Lazada or TaoBao.

“You can go to our webpage and purchase our products from there, which is our main business,” she said in a press conference at a restaurant owned by MonSpace today.

According to Lai, her company also helps its members by providing funds for them to establish businesses, as well as properties from which to run them.

“For instance, we have land in Kelantan and we have utilised part of the land to start a chilli plantation. Since we have many plots, we divided some of the plots for the poor and unemployed to help them earn an income.”

Lai also said claims that MonSpace had been blacklisted by Bank Negara Malaysia (BNM) are incorrect as the company was only listed on the central bank’s “alert” list.

“We will not take any further action in regards to this matter until we are told to do so by our lawyers.”

Lai was responding to allegations made by DAP lawmaker Lim Lip Eng. Lim, who is Segambut MP claimed that the company is involved in an illegal investment scheme, and demanded that it provide proof that it is running a legal business.

However, Lai’s explanation appears at odds with the statement of one of the company’s members, who said he had made an investment when he joined MonSpace.

Darren (not his real name) said he could get RM4,000-RM5,000 every month for eight months if he invested RM10,000 as the initial amount. This would give him a profit of about RM40,000.

Lai also denied allegations that former inspector-general (IGP) of police Musa Hassan is linked to MonSpace. She said Musa was only the president of MonSpace Net Inc, which has no direct links with MonSpace Corporation.

“The former IGP has no direct links with MonSpace. He is the president of MonSpace Net Inc, which is the listed company.

“In regards to all the MonSpace companies in Malaysia, he is not involved in any of these.”

Earlier today, DAP member Ronnie Liu had demanded that Musa step down from his position in MonSpace as it could give a bad impression of the police force.

Yesterday, 19 Chinese nationals filed police reports against it for allegedly tricking them into investing in a money scheme guaranteeing huge returns which never came.

This came after news broke that MonSpace was listed in Bank Negara Malaysia’s Financial Consumer Alert list.

BNM said the list consists of companies and websites which are neither authorised nor approved under the relevant laws and regulations administered by it.

There are currently 14 million users registered under MonSpace worldwide. By buying the company’s products, users accumulate points which can then be exchanged for a gift.

http://www.freemalaysiatoday.com/category/nation/2017/05/22/chinese-nationals-arrive-to-demand-action-against-monspace/

http://www.freemalaysiatoday.com/category/nation/2017/05/13/monspace-scam-worse-than-jjptr-says-dap/

http://www.freemalaysiatoday.com/category/nation/2017/05/14/we-comply-with-rules-regulations-says-monspace/