They hope these statements will be used as evidence in potential embezzlement or fraud cases filed by SSM.

Representing the victims, Malaysian International Humanitarian Organisation (MHO) secretary-general Hishamuddin Hashim said he hoped the additional statements would spur further investigations.

According to Hishamuddin, no arrests had been made although the complaint was filed in March, which is a matter of concern for the NGO.

“Section 27A of the Companies Commission of Malaysia Act provides for enforcement and investigative powers. The registrar has all the powers of a police officer in all matters provided for in the proceedings.

“This means that SSM has the power of arrest. You do not have to wait for the police before proceeding.

“SSM can make arrests even if it is an investment scheme not registered under the Interest Schemes Act 2012,” he said at a press conference in Kuala Lumpur today.

This is the third step undertaken by the scam victims after they lodged reports with the police and Securities Commission in March and April respectively, he said.

Most of the victims said they became interested in the investment schemes after the companies falsely used the names of celebrities, members of royalty, former government officials and religious figures to publicise their activities.

The father of a famous athlete, who wished to remain anonymous, said he had lost RM150,000 after believing that the investment scheme was a product of a local bank.

“The representative who introduced me to the scheme, promising returns of up to 6% a month, was also a bank employee.

“I only received the bonus for the first three months. After that, I did not receive any money,” he said.