KUALA LUMPUR: Victims of an alleged investment scam have exposed a 'Datuk Seri' – claiming to have collaborations with a leading green technology company in Denmark, being behind it.
According to Harian Metro's 'Skuad Khas' report, the Datuk Seri in question, a man, had lived in Denmark for 20 years and purportedly credits himself with holding a Doctor of Philosophy (PhD) degree from a Danish university.
He allegedly claimed that his company specialises in green technology projects, biodiesel, nano-technology, and construction sectors to attract investors with promising returns.
To convince victims, he and his associates established several separate companies and appointed a senior female lecturer from a public university in her 40s, specialising in these fields, as the company's advisor. They also advertised opportunities for the public to invest in green technology development projects in Raub, Pahang, and KXP Kulim, Kedah.
To further persuade investors, this man, along with his partners, including the lecturer, would present project proposals estimated to be worth RM20 billion. However, once investors put their money in, the projects were not pursued, and their investments disappeared. The man would provide various excuses for the project delays.
One victim, a 60-year-old businesswoman known as Hayati, revealed that she first met the Datuk Seri in 2014 at a family event. He introduced himself and spoke about developing a green technology development project in Raub, Pahang.
Hayati, intrigued by the investment opportunity, agreed to invest and even introduced him to the Pahang state government to discuss project approval. Over four years, she transferred over RM300,000 to his company to support the green technology project. However, despite her investments, the projects failed to materialise, and whenever she inquired, she was given numerous excuses by the man and his associates.
The man and his associates claimed to have secured new investors from Saudi Arabia who allegedly invested RM49 million in 2019. They presented documents and bank account statements to persuade Hayati to continue investing, assuring her of the project's success.
After the Raub project failed, they claimed to shift the project to KXP Kulim, Kedah. However, Hayati and other victims have yet to see any returns. Hayati has reported the matter to the Putrajaya police station.
The man was cunning, requesting only a small portion of the investment to be deposited into his bank account, while the rest was given in cash. Despite the seeming legitimacy of the project proposals and the involvement of the lecturer, Hayati and other victims fell victim to this scam.
There are other victims, including a film producer who also fell prey to them. The producer filed a lawsuit, which they lost, and the company was ordered to pay RM2.4 million in damages.