KUCHING — A 32-year-old businessman and four family members lost RM750,000 after investing in a China-based pyramid scheme promising massive returns. Sarawak United People’s Party (SUPP) Public Complaints Bureau chief Milton Foo said the victims were lured in 2019 by a multi-level marketing plan in Guangxi, China, which claimed each RM150,000 investment could yield RM23 million.
Pyramid Scheme
Foo said two suspects were arrested in Miri and Kuching but later released, with no updates since. He urged police to intensify investigations and warned the public against schemes promising unrealistic profits. The victims reportedly sold businesses to fund the investments.
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