How many investors lost money in the Tawau gold scam?

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Over 300 Investors Reportedly Lost Money in Tawau Gold Investment Scam

A businesswoman in Tawau has claimed to be a victim of a gold investment scam, reporting that she, along with approximately 300 other investors, collectively lost over RM5 million. The scam involved a suspect who posed as a representative of a gold investment company, promising high returns.
Individual Investment and Company Losses Detailed

Liana Friska Ramle, owner of Zerina Collection, stated that her personal investment amounted to RM3.17 million. In addition to her funds, the other 300 investors collectively contributed RM2.18 million, all of which was handed over to the suspect. MG Jewels business representative Ale Rahman Abdul Rauf indicated that the company itself also suffered losses totaling RM2.36 million due to the same alleged scam, having been affected since May.
Promised Returns and Subsequent Failure to Pay

The female suspect reportedly guaranteed investors substantial returns, ranging from five to 15 per cent within a 10-day period, or a fixed RM25 per gram of gold invested, with the promise of gradual capital return. While investors initially received profits in May, June, and July, these payments ceased from August onwards. The capital repayment, which was expected in October, November, and December, was also not made, leading to a police report being filed on December 14.
Legal Action Underway for Victims

Representing Liana Friska and several other affected individuals, lawyer Abdul Ghani Zelika confirmed that a letter of demand was issued to the suspect on December 11. Following a lack of response, discussions are ongoing among the victims to pursue legal action, including filing a lawsuit against the alleged perpetrator. The Tawau district police chief, ACP Jasmin Hussin, has confirmed that a report has been lodged and an investigation is being conducted under Section 420 of the Penal Code.

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How many investors lost money in the Tawau gold scam?

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