RM183 Million Investment Scam: Over 100 Victims Rally Outside MACC Headquarters in Pursuit of Justice

PUTRAJAYA: More than 100 alleged victims of a large-scale investment scam gathered outside the Malaysian Anti-Corruption Commission (MACC) headquarters today to submit follow-up reports and demand action against a fraudulent scheme that has reportedly caused losses amounting to RM183 million.

The group claims to represent a total of 685 investors who were duped into investing in what were marketed as redeemable conventional and Islamic investment schemes (RPS/i-RPS). These investments allegedly involved debenture products, shares in economic benefits owned by company directors, and pre-IPO (initial public offering) stocks, all promising high returns within a short period.

The scam is believed to involve 12 local companies operating under similar models and fraudulent tactics.

Datuk Hishamuddin Hashim, Secretary-General of the Malaysian International Humanitarian Organization (MHO), who was present at the gathering, said that complaints had been submitted to four relevant government agencies over the past two years, but the syndicates continued their operations with impunity.

“These companies used nearly identical strategies to mislead investors. Despite repeated reports, there has been little visible enforcement or action to stop them,” he told reporters outside the MACC building.

In a surprising admission, Hishamuddin revealed that he himself had invested in the scheme in 2021 and was even appointed as a company agent, at one point earning up to RM600,000 in returns. However, he later realized the true nature of the operation and is now working alongside victims to seek justice.

“We are not only here to demand the return of our money, but more importantly, we want firm legal action to be taken against the masterminds behind this scam. This must be a warning to others who continue to exploit innocent people,” he added.

The group is calling for MACC and other authorities to intensify investigations and prosecute those responsible for the scam, which has left hundreds of Malaysians financially devastated.

Authorities have yet to issue an official response regarding the status of the ongoing investigations or any planned enforcement action.