简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract：A sophisticated forex investment scheme that took a decade to establish has been exposed as a global financial fraud. In Malaysia alone, at least 77 individuals have reportedly lost more than RM48 million.
A sophisticated forex investment scheme that took a decade to establish has been exposed as a global financial fraud. In Malaysia alone, at least 77 individuals have reportedly lost more than RM48 million.
Operating under a licensed entity, the group gained credibility by publishing monthly investment reports. It conducted regular online meetings to reassure investors. These efforts fostered trust among participants. However, in December 2022, the organisation abruptly transitioned to a new platform. Previous investors were unable to access their funds, while the new scheme continued attracting participants.
The scams impact extends beyond Malaysia. Victims have been identified in the United States, Canada, and Taiwan. In an effort to seek justice, 58 Malaysian victims, accompanied by Malaysian International Humanitarian Organisation (MHO) General Secretary Datuk Hishammuddin, held a press conference. They urged authorities to take immediate action.
Investigations revealed that while the company was registered in Seychelles, its promotional activities and financial transactions were conducted in Malaysia. The scheme converted collected funds into US dollars before transferring them to investment platforms. Specialists were deployed to offer enticing investment packages, promising investors a minimum monthly return of 7%.
Despite never meeting the organisers in person, victims possessed extensive documentation. Photographs and videos from online meetings have been submitted to the authorities as evidence. Law enforcement agencies are now scrutinising financial transactions linked to the scheme in an attempt to identify the perpetrators.
Hishammuddin stressed that conventional fraud-related charges may not be sufficient. He urged authorities to invoke multiple legal provisions, including Section 420 (cheating and dishonestly inducing delivery of property) and Section 424 (fraudulent and dishonest disposal of property) of the Penal Code. He also suggested applying Section 130V, which pertains to organised crime, to ensure the masterminds behind the operation are brought to justice.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
HYCM Capital Markets (UK) Limited reported a £236,304 loss for 2025, as higher administrative costs offset a small rise in revenue and reversed the previous year’s profit.
XELLION, a Saint Lucia-based forex broker, is reportedly facing many complaints from users. Among the complaints, the lack of smooth fund withdrawals remains the most disturbing one. This issue was not only highlighted by real users but also the Introducing Broker (IB) who expressed shock over this issue on broker review platforms. In this XELLION review article, we have examined these allegations against the brokerage entity.
If you're looking for information about AssetsFX deposit and AssetsFX withdrawal processes, you're taking a smart step when choosing a broker. However, when it comes to AssetsFX, we need to discuss some serious concerns right away. While its website shows many modern payment options that look good, many user reports tell a very different and worrying story, especially about people not being able to get their funds back. Keep reading!
When traders look at a new broker, the most important question is always about safety. This is especially true for AssetsFX, a broker whose online presence raises a serious question: Is AssetsFX safe or a scam? The answer isn't immediately obvious, as the broker has a very divided reputation. When you search for user feedback, you find two completely different stories. On the one hand, there are many positive reviews. On the other side, there are very serious claims of financial wrongdoing. This article won't waste your time. Our goal is to look through all the information, from regulatory status to real user AssetsFX complaints, to help you understand the major risks and make a smart decision about your investments.
WikiFXWikiFXWikiFXWikiFXWikiFXWikiFXWikiFXWikiFXWikiFXWikiFX
