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QURNISHA HAMKA, SM AMIN
Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri says six investigation papers have been opened into the pyramid-type scheme. Thai police have reportedly arrest three members of a gang which had allegedly scammed 6,000 million baht (RM605 million) from thousands in China, Malaysia and Thailand.
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KUALA LUMPUR, Oct 29, 2014:
DAP has urged the government to work with Interpol to search for Zhang Jian, the man behind the YSLM alleged “get rich quick” scheme, and bring him back to Malaysia to face prosecution.
Zhang had been dubbed the “world’s future richest man” on billboards that appeared in Penang.
Segambut Member of Parliament Lim Lip Eng said Zhang should be brought back to Malaysia as he had allegedly “cheated many Malaysians”.
“They have been arrested in Thailand and I want the government’s relevant ministries involved to seek assistance from Interpol to bring Zhang and his group back to face prosecution.
“I also want to ask why the representative and agent in Malaysia have not been caught and their belongings confiscated to help with investigations,” he told reporters at a press conference at Parliament today.
In wanting all those involved with Zhang’s business in Malaysia to be arrested, Lim said he didn’t understand why the government was taking the matter lightly.
In a written reply, Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri explained that six investigation papers against a company called CDTUP Sdn Bhd had been opened up.
YSLM was believed to be under that company’s direct-selling business, giving the impression that its scheme was legally valid.
However, on Sept 24, CDTUP International’s licence was revoked because it was found to have broken the terms of its licence and was suspected of carrying out businesses under a pyramid scheme.
“The question here is, they have been here for two years and many have informed that this business is a pyramid scheme, a get-rich-quick- scheme and is illegal.
“But no one was arrested until they went to Thailand, and there, they were caught in less than two months.
“So I want to ask the ministry responsible, I don’t know if its domestic trade, the police or Treasury, what really happened?”
According to Thai media reports, the Royal Thai Police arrested three members of a Chinese gang which had allegedly scammed 6,000 million baht (RM605 million) from thousands in China, Malaysia and Thailand.
News portal The Nation reported that the gang had convinced more than 100,000 people to invest and allegedly paid them “returns” from the investments of new entrants, which were not the actual profits.
The report stated that police were also looking for a Thai national who was involved in the scheme, launched in June.