KUALA LUMPUR – The Malaysian International Humanitarian Organization (MHO) has urged the police to conduct a thorough investigation into a well-known cooperative suspected of running a fraudulent gold booking and investment scheme.
According to MHO Secretary-General Datuk Hishamuddin Hashim, the scheme has allegedly left 127 victims suffering losses exceeding RM5.5 million.
He revealed that MHO has received numerous complaints from cooperative members, mainly from Kuantan, who claim they were deceived after the cooperative failed to pay dividends as promised.
Shockingly, the cooperative is regarded as one of the best in Pahang and has even received awards in the past, leading the public to trust its credibility.
“As of now, 127 victims have lodged complaints with MHO, but we believe this is just the tip of the iceberg, and many more individuals have fallen prey to this non-existent gold and investment scheme.
“The victims were required to pay a membership fee with the promise of receiving dividends as high as 18 percent per year. Additionally, the cooperative offered a gold booking scheme for 916 gold, guaranteeing monthly returns of one to three percent.
“However, when the time came for dividend payouts and profit distribution, the cooperative and its associated company failed to fulfill their obligations, citing unreasonable excuses for prolonged delays,” he explained.
Yesterday, Hishamuddin, along with hundreds of victims, lodged a report at the Kuantan District Police Headquarters in Pahang.
“We urge the police to launch a full-scale investigation into this case to ensure justice is served and those responsible are held accountable,” he stressed. -MalayaDailyToday
