When did investors stop receiving profits and capital repayments?

Question

Accepted Answer

Investors Ceased Receiving Profits and Capital Repayments Starting in August and Subsequent Months

Investors in a gold investment scheme reportedly stopped receiving profits from August onwards, with capital repayments that were due in October, November, and December also not being disbursed. This cessation of payments has led to significant financial distress for numerous individuals involved.
Profits Discontinued from August

Profits were initially distributed to investors during May, June, and July. However, these payments abruptly ceased starting in August. This marked the beginning of a period where investors no longer saw returns on their investments as initially promised by the scheme's representative.
Scheduled Capital Repayments Missed

Following the halt in profit distributions, the scheme also failed to meet its commitments regarding capital repayments. These repayments were scheduled to occur in October, November, and December but were not made. This failure to return invested capital exacerbated the financial losses for the investors.
A Total of RM5 Million Potentially Lost

The scale of the alleged scam is substantial, with one businesswoman, Liana Friska Ramle, claiming to have invested RM3.17 million. She also stated that approximately 300 other investors collectively invested RM2.18 million. This brings the total amount invested and allegedly lost to over RM5 million.
Legal Actions Underway

In response to the non-payment of profits and capital, a police report was lodged on December 14. A letter of demand was also sent to the suspect on December 11, but without a response, legal representatives are now considering filing a lawsuit. Another company, MG Jewels, also reported losses of RM2.36 million due to the same alleged investment scam.

Reading history

Hide →

This history is cleared when the page is closed.

When did investors stop receiving profits and capital repayments?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends