Chinese Embassy in Malaysia warns citizens of online pyramid scam
The Chinese Embassy in Malaysia has warned its citizens not to engage in street protests following complaints from 100 Chinese nationals of being cheated through a Malaysian online pyramid scheme.
Chinese nationals stage a demonstration outside a building in Kuala Lumpur, claiming they has lost their life savings to a local investment company named MBI Group International. (Photo: scmp.com)
Kuala Lumpur(VNA) – The Chinese Embassy in Malaysia has warned its citizens not to engagein street protests following complaints from 100 Chinese nationals of beingcheated through a Malaysian online pyramid scheme.
The embassy said in astatement that it had attempted to help by recommending Malaysia-based lawyersand holding legal consultation sessions. It also urged Malaysian police to paygreater attention to the case and launch investigations as soon as possible.
In another statement, theChinese Embassy warned the Chinese nationals, who are on a tourist visa, not todemonstrate as it is illegal in Malaysia.
The statement was issuedfollowing reports that many Chinese had staged a demonstration outside abuilding in Kuala Lumpur, claiming they had lost their life savings to a localinvestment company named MBI Group International, and demanding the companyreturn their money.
Senior Assistant Commissioner Adlan Ahmad, theprincipal assistant director at the Royal Malaysia Police's Commercial CrimeInvestigation Department, said his department had not received any report fromthe Chinese MBI protesters yet.
Last year, Teddy Teow Wooi Huat – founder of MBI International and its subsidiaryMface International – were charged in court with various offences including issuing electronicpayments unrecognised by Malaysia's central bank, promoting pyramid schemes,and involvement in money laundering.
Although he initially pled notguilty, Teow later changed his plea and was fined 3 million MYR (715,000 USD). In 2011, he was slapped with a 160,000 MYR fine for misleading investors./.
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Chinese nationals stage a demonstration outside a building in Kuala Lumpur, claiming they has lost their life savings to a local investment company named MBI Group International. (Photo: scmp.com) 
