KUALA LUMPUR: CDTUP International Sdn Bhd and YSLM Millionaire Scheme have been brought to court on Sept 17 and six investigation papers have been opened under the Direct Sales and Anti-Pyramid Scheme Act 1993.
In a written reply to Lim Lip Eng (DAP-Segambut), Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek said the alleged company and its director have been given bail of RM200,000 and case mention was set on Oct 21.
Hasan said two cases have been forwarded to the Deputy Public Prosecutor for the director to be charged in court and three other cases are under investigation.
“An arrest warrant has also been issued by the court for one of the CDTUP International directors.
“The licence for CDTUP International has been cancelled on Sept 24 for carrying out pyramid scheme business and violating licensing terms.
“Investigation papers under the Anti-Money Laundering and Anti-Terrorism. Financing Act 2001 (AMLATFA) have been opened and we have frozen assets and seized properties from their illegal activities,” Hasan said to a question by Lim on the status of investigation and why the representatives and agents were not arrested as well as seizing their properties to assist investigations.
However Hasan added they do not know the amount of investment made under the YSLM, as it would depend on the complaints made against them and the records.
The majority of the complaints were queries and there are no records of YSLM bank accounts in the country, Hasan said.
Meanwhile, Lim said the self-proclaimed China “millionaire” Zhang Jian, who is behind the YSLM quick rich scheme should be brought to Malaysia to be charged.
Lim added that the Malaysian government should work with Interpol to bring Zhang and his accomplice to face the music here.
“Everyone associated with Zhang, his associates and partners should be caught, have their assets frozen and investigated here.
It was reported that Thai police had arrested Zhang and two others over a pyramid scheme for duping people in China and Malaysia out of 6 billion baht (RM600mil) and 3 billion baht (RM300mil) respectively.
The get quick rich scheme was established by Zhang, a China national, under the pretext of a licensed direct-selling company (CDTUP International).
The schemes offered by YSLM had promised investors of high investment returns.