Bold, independent coverage of Malaysian politics, business and current affairs.
The son of a Philippine town mayor has been added to the FBI's Most Wanted Fraudsters list following allegations of orchestrating a US$650 million Ponzi scheme that victimised approximately 2,000 investors across multiple US states.
A 36-year-old woman is expected to face charges tomorrow at Alor Star Sessions Court for allegedly orchestrating a kootu tontine scheme that defrauded participants of approximately RM1.7 million.
Malaysia's Minister in the Prime Minister's Department (Religious Affairs) Dr Zulkifli Hasan has drawn parallels between Tabung Haji's financial manipulation and a Ponzi scheme, revealing how the fund declared profits while technically insolvent, necessitating a RM10 billion government bailout.
A joint investigation by The Straits Times and OCCRP identifies Chen Sokly, the second major co-conspirator in Chen Zhi's multi-billion dollar scam syndicate, revealing his sprawling asset holdings and operational networks across Singapore, the US, and Cambodia.
Malaysian police have initiated five separate investigations into alleged commercial crimes identified in the Royal Commission of Inquiry report examining Tabung Haji's financial affairs, marking a significant enforcement response to findings of potential misconduct.
1MDB has initiated a civil lawsuit against former Prime Minister Najib Razak, claiming he spearheaded fraudulent schemes that depleted the sovereign wealth fund of RM51.4 billion, with fugitive financier Jho Low as his accomplice.
Cybercriminals are impersonating US tax authorities to defraud cryptocurrency holders through convincing fake letters and spoofed websites, marking a troubling escalation in digital fraud targeting digital asset investors.
Singapore police have launched a major operation against scam networks, investigating 255 suspects across more than 660 cases resulting in losses of approximately $5.6 million. The probe targets scammers and money mules involved in various fraud schemes.
A former Singapore Armed Forces captain has been jailed for 21 months and fined S$6,000 after admitting to defrauding nearly S$87,000 from five colleagues and multiple vaping offences involving subordinates.
Prime Minister Anwar Ibrahim has pointed to the eFishery scandal as evidence that Malaysia cannot wholly rely on external auditors, after three leading firms approved KWAP's RM163.4 million investment without detecting fraud.
India's securities regulator has warned of a sophisticated cyber fraud dubbed the 'boss scam', where fraudsters impersonate senior executives to trick employees into transferring company funds to criminal accounts.
Malaysia's Parliamentary Public Accounts Committee has not yet committed to investigating the alleged RM200 million fraud tied to KWAP's investment in Indonesian aquaculture firm eFishery, leaving questions about oversight and accountability unresolved.
Singapore authorities are investigating 550 people, including minors as young as 16, suspected of involvement in over 1,800 fraud and unlicensed moneylending cases that have defrauded victims of more than $17 million combined.
The Malaysian Anti-Corruption Commission has frozen RM3.4 million in company accounts while investigating claims that false documents were submitted to obtain approximately RM20 million in financing from a development financial institution.