Petaling Jaya (The Star/ANN) - More than 100 people have come together to seek justice after falling victim to an investment scam by an international company based in Shah Alam city in the Klang Valley.
They have set up an action committee made up of victims from as far as Singapore to look for ways to recover their losses.
Kelana Jaya parliamentary coordinator Ong Chong Swen said there could be as many as 10,000 victims.
"We have received complaints from other states like Perak, Johor, Selangor and Malacca and Kuala Lumpur, and even from Singapore and Iran," she told a press conference at her office in Petaling Jaya yesterday.
"All of them have complained of being cheated by the company."
Ong said the scam was serious as it involved a large sum of money and must be exposed.
She said the company was established in 2005 selling a range of beauty products and two years later, it started selling energy pendants through direct selling.
In 2010, it invited agents to buy an investment package costing between 5,300 ringgit (US$1,678) and 7,500 ringgit ($2,375) whereby agents would receive 35 pendants to be sold to customers for 595 ringgit ($188) each as well as a promise of 380 ringgit ($120) monthly returns for 70 months.
A victim from Singapore, Angel Yek, said she had bought the package in November last year and went all out to introduce what she believed to be a sound investment package to her friends. Between them, they bought 99 investment packages from the company costing more than 500,000 ringgit ($158,378).
The committee did its own checking and found that the company's direct selling licence had expired in August last year.
To date, more than 450 police reports have been lodged against the company.