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Singapore police arrested a 49-year-old woman connected to Fun Coffee, a cryptocurrency investment scheme based in Vietnam. The operation, which recruited participants through a mobile app, has defrauded hundreds across Asia of millions in funds.
A former unit trust consultant in Kuala Lumpur has been sentenced to 18 months imprisonment and fined RM2 million for perpetrating investment fraud. The case underscores regulators' ongoing efforts to combat financial crimes in Malaysia's investment sector.
KWAP is pursuing all available channels to recover its RM163.4 million investment in eFishery, an Indonesian aquaculture startup, following the discovery of deliberate financial fraud and embezzlement that led to the conviction of co-founder Gibran Huzaifah.
Police in Melaka have arrested 21 Chinese nationals suspected of operating a sophisticated investment fraud syndicate. The operation targeted unsuspecting victims through non-existent investment platforms, prompting authorities to intensify efforts against transnational financial crimes.
Malaysia's Court of Appeal has upheld a RM28 million judgment against Singaporean businessman Chan Cheh Shin, finding evidence that he actively promoted fraudulent investment schemes through seminars and roadshows to defraud investors.