KUALA LUMPUR: DAP’s Lim Lip Eng wants MonSpace (M) Sdn Bhd to provide proof that the company is running a legal business with no attachments to any monetary investment schemes.
Speaking at a press conference today, he demanded that MonSpace founder Jessy Lai address allegations that the firm is involved in an investment scheme that has failed to pay returns as promised to a group of Chinese nationals.
“We want solid proof that they are running a legal business and are indeed a listed company in the US, as they have claimed.
“I also demand that they provide proof that they have a banking licence in China.”
He invited Lai to take legal action against him and several other DAP representatives if the company was indeed involved in legal activities, as the founder had alleged.
Meanwhile, DAP member Ronnie Liu demanded that former inspector-general of police (IGP) Musa Hassan clarify his involvement and step down from any position he holds in MonSpace.
“Step forward and don’t be a coward. We have asked him for the past two weeks to step out and clarify his involvement,” Liu said, adding however that the former IGP preferred to remain silent on the issue.
Liu said he wanted Musa to resign from the organisation as his involvement might tarnish the reputation and credibility of the police.
“We demand that the former IGP resign from MonSpace as people may assume that the company is being backed by the police force.”
Liu and several DAP lawmakers had previously claimed that Musa and other prominent figures were involved in MonSpace’s business activities.
When contacted by FMT, the former IGP refused to comment, leaving it to Lai to clarify about his involvement.
Yesterday, 19 Chinese nationals lodged police reports against MonSpace, claiming they were misled into placing their money in an investment scheme by the company. They said MonSpace had promised them huge returns which never materialised.
Speaking to reporters after lodging the reports, one victim said he had invested up to 140,000 renminbi (RM87,000) since March 2016.
Today, Liu and several DAP members, together with the Chinese nationals, made their way to the company’s headquarters at Bukit Jalil.
Liu said the Chinese nationals had come to have a discussion with Lai so that they could get back their capital.
MonSpace came under scrutiny after the release of Bank Negara Malaysia’s (BNM) updated Financial Consumer Alert list on May 11, which added MonSpace to its list of 291 companies.
The list consists of companies and websites which are neither authorised nor approved under the relevant laws and regulations administered by BNM.
Following this, Lim, who is also Segambut MP, claimed the BNM list proved the company may be involved in illegal investment activities.
He had asked the government and the Chinese embassy here to probe Lai in July last year.
Lim claimed that MonSpace used a direct selling model that imposed a fee of RM500 for “normal members” and RM5,000 for shareholders.
According to him, 90% of MonSpace members were Chinese nationals, with some of them investing millions of renminbi.