300 people claim losing RM2.2 million to scam

About 300 people claim to have fallen victim to a Ponzi scheme scam to the tune of RM2.2 million in losses.

The scheme was allegedly run by a married couple.

In relating the incident, MIC treasurer-general Datuk Seri S. Vel Paari claimed the couple used the names of national leaders to influence and convince the victims to invest in the scheme.

He said MIC had received complaints from the victims who were promised multiple returns on their investments.

"There was also a cancer patient who invested so that the returns could be used to finance treatment costs...I hope the couple will return the money to the victims," he told a media conference here Saturday.

In the meantime, Vel Paari said he and former MIC treasurer Datuk R. Ramanan had advised the victims to take legal action, adding they would help meet the legal costs.

Kuala Lumpur Commercial CID chief, ACP Mohd Luthfi Ismail Abdullah confirmed receiving a report on the matter. --Bernama