KUALA LUMPUR (THE STAR/ASIA NEWS NETWORK) - A gold investment scam by a supposed "Datuk Seri" has left more than 100 investors poorer by about RM15 million (S$5 million), several of the victims claim.
Nine of the victims, who lost about RM1.5 million in total, have come forward to tell their story to the public with the help of the Malaysian Chinese Association's (MCA) Public Services Bureau.
They said they were initially persuaded to sell their gold to the man's company, which would accumulate it in "Bank Negara" and then sell it to China after amassing 20 tonnes.