SCAMS in Malaysia

1) The Cafe Scams :

- Island Red Cafe & Stevens Corner(strange, both in Pandan Indah)
- Island Red Cafe collects members RM6,000 each and promised 5% return every month and even give you a name in the ROC as a shareholder but what's the point when they run away ? Stevens Corner, the famous indian coffee shop follows due to drop of business since their renovation. They collect RM3,000 per member and promise return of RM150 monthly and plans to open nice fanchisee cafe called StevensTeaGarden. Someone mentioned they will make you sign an agreement that give them the rights NOT to pay you anything in future. If you really wish to join, ask for a copy of their agreement and consult your lawyer BEFORE paying them. Bet you will NOT get a copy. Both collect monies from new members with MLM recruitment schemes and pay the old members like Sunshine Empire. You never know when they will run away.

2) Sunshine Empire :

- This licensed and legal Company has an impressive office at the ground level of KUB building along Jalan Yap Kwan Seng, near Menara Public Bank and AmBank Building. They also have a showroom office at the ground level in the next building. 2 or 3 months ago, Singapore's Straits Times and The Paper published big news reminding their people to be careful and NOT to believe in them. Hope someone can put up the link or google for it.(As expected, they STOPPED paying back members now and all investors LOST their money).
Someone below has put a link to the Singapore news. In fact there are more to it. Although Singapore is investigating them, they did not stop their business as the business is legal and so far, no Singaporean have failed to receive their commissions as promised. Thus, the government cannot stop them yet.
The news published that the founder, director and group president is someone named James Phang but he is NOT the owner. Isn't this quite strange ? At the end of the game, James Phang can just disappear from the Company easily and claimed that he was just "employed". Such trick always happened in scam businesses.
Now, the Company has STOPPED paying commissions and interests to members with the excuse that the Singapore government has freezed their bank account while under investigation. Do you think their boss will be so stupid to keep much monies in the bank to be freezed ? They are all transfered away. It's just an excuses not to pay back to members and members are only paid "e-bonus-points" which is cashless. If they wish to convert to cash, they have to recruit new members to pay them cash and the recruiter less out trom the amount. So victims act like Vampires and "forced" to victimise other victims if they wish to get their monies back. And their victims will later transform to vampires and the scam carries on.....

3) MOBILWALLET :

- This Company owned by 2 young men, Stanley & Rey Gan, office in Queens Avenue Park has collect multi-millions the last 2 years. Claimed that they tied up with Telekoms, Utility Board payment like Water & Electricity bills, even Maybank got fooled by them. Advertisement Billboards everywhere. They STOPPED paying back their members few months ago and the members cannot do anything because they are made to sign an agreement unaware that they have to claims if the company stopped paying them by CHANGING terms and policies.

4) Water businesses :

- Oxygenated and alkaline water products - Some of these are bottled water and some are filters or equipment that claimed the trick. One of the better known Company that sold "oxygen" water is SITO(supposed to stand for Selangor International Trading Organiszation and claimed Selangor State Government owned some share in it). The key person and founder is a Dato Robert Ong from Rawang but his name is no longer in the business now. Their products are sold for RM2 to RM3 for a 350ml bottle and now concentrating mostly in the Indian market. Their Chinese and Malays market are long gone since a year or 2 ago. Their customers are made to believe that their water has more oxygen and able to give miraculous effects for the body. Water is H2O, how to put more O into it ? Anyone knows how much oxygen do we breathe into our body everyday at FOC ? Latest news is that this SITO Company is going to create new label to market under a new Company since the SITO name has already gone bad. Someone informed that this Company is owing alot of money(due to refunds) to ex-stockists but just refuse to pay them.
(Latest news, SITO shifted to another place and their MLM business has closed but planning to start again with a different name, beware !!)
Alkaline Products - Can anyone explain how it can work for the body ? The stomach's gastric liquid is so acidic that water of any pH that goes through it will not make any difference.

5) Car Fuel Booster :

- K-Link, the famous scam MLM Company that sold the footpatch TAKARA, later the "cock-ring" and energy-card launched the patrol-saving pills last year. Got so hot that even grocery shops are selling for them. Recently many of these cars that used the pills are rushing to the workshops to clean the residual. Few months ago, another MLM Company launched a fuel booster gadget, claimed that saves up to 20% fuel, that is attached to the cigarette lighter. Started off well using binary plan but businese begin to fade now and most users find it NOT effective.

6) Perfumery Products : (eg. Lampe Berger & Bel Air)(more details later).

- Lampe Berger is not so hot now in the neighbouring countries but there are still new victims every month in Malaysia. Must thanks to those who have contributed and kept the thread alive here in Kopitiam. Bel-Air have closed in Malaysia. LB is almost zero in Singapore. This perfumery product from France with over 100 years history is just bottles and fragrance(check the factory's website) but the Company marketing them in Asia claimed "aromatheraphy" products. Hong Kong TVB aired a program that exposed their scam but their members claimed that HK's TVB already apologised to them. Note that the biggest strenght in a MLM Scam is their members will go all way out to lie in order to defend for their Company. The reason is simple; these members fear that they will not be able to make their money back if the Company collapsed. Knowing that the Lampe Berger products are moving slow, they add a line of skincare products named Estebel, also claime to have over 100 years history in France.(Hardly anymore Chinese newcomers, they are now tapping the Malays in Malaysia)

7) Energy Products(eg. stone pendants, bracelets, mattress and pillows).

- They use all sorts of gimmicks and demonstration to make you into believing them. They will do some tricks and demo to prove that these products really produce energy BUT is there any tricks in their demo ? So what if there really produce energy; is it good or strong enough to help the body ? The effect is actually PLACEBO which I will elaborate in a new thread soon.(more details later)

8) Hi-Tech products(names like bio-tech, nano-tech that claimed millions of dollars of research involved, eg Bio-Young and XKL few years ago).

- Most of these will claimed a professor behind them(even with name and picture of a person) or used words like "U.S.A. formula", "German Technology" or "Nanotechnology" and no further details(more details later). If you ask for more details like the professor or factory's address, the answer will be "trade secrets".

9) Investment Schemes :

- SWISSCASH is the King of all. Swisscash is nearly over now but there are many similar and smaller ones that are still on.(Now, it's closed or stopped paying back members)

10) GoldQuest

- This Company that claimed to be HK-based started with some non-value gold-plated coins that are sold for over RM2,000 have several names and changed products several times. QuestVacation, QuestNet, etc. They have several offices in Amcorp Mall, PJ and their key person(in fact, the owner), a Malaysian Indian was arrested last year in Indonesia for having involved in a very big Phillipines scam. Most of their overseas offices are closed or inactive but their Malaysia business is still hot, with some "energy" products.(Can someone please provide a link which showed the news that their boss was involved in a big scam in Philippines and was arrested in last year ?)

11) Numerology & Fortune telling

- A Company named Visible is using MLM to sell fortune telling classes using your birthday based on Numerology fortune telling. Prpspects will be told that they need to buy a certain "number" between 1 to 9 in the form of pendants or bracelets made of stainless steel and sold from RM600 to RM20,000. Customers, or rather victims are mostly females from rural areas. Very hot in Penang now and a number of spin-off Companies have started.

12) MJ-Life

- This Company boost of a very big background with many many years of history which is NOT true. Their people or associates may be long in business but nothing to do with their MLM launched recently. Why do I consider it a scam or bad ? New members are told to pay a sum of money(up to RM1000) and you get NOTHING for it. You only get a membership can entitle you to enjoy all sorts of special price and discounts when you have medical check-ups in their centres. They will claim all those check-ups cost more if done elsewhere. It's not true. Only the naive and those new to medical check-ups will fall victims to them. Most members who paid the money ended up with nothing.

13) Seaweed Venture Scams

- 1 such Company is located in Taman Maluri, Cheras. They will ask you to invest a few thousands ringgits for their venture of growing seaweeds in East Malaysia and you are guaranteed returns. To gain your confidence further, they will tell you your investment money is secured by "insurance" or "unit trusts" & "trustees". When you ask for further documents to prove, they will give all sorts of excuses or just ignore you because they know they cannot get you. These Seaweed scam is one of the hottest now, warn all your friends about it before they are victimised.

14) MXM(previously MGM)

- This is a master scam among the younger group, very successful 2 or 3 years ago but since there moved to their big 10-storey office at Phileo Damansara and changed name to MXM, their business dropped. They collect members RM3,000 to RM4,000 with credit card monthly easy payment and in return you get a hospital benefits insurance from Pacific Insurance worth only a few hundred RMs together with some you-don't-need medical check-ups from their associate Company Pathlab. Also talk about fitness, lifestyles bullshit that is all worthless.

15) Gano Excel

- This company from the north, a copycat of DXN selling Lingzhi capsules created a new Company called Gano iTouch to cash-in on the internet like e-Cosway after their Company went down the drain since the last 2 years, selling Linzhi and some no-value energy pendants and alkaline water gadgets. They provide free transport every weekend from KL to visit their Alor Star office.

16) NuLife(HK)

- This Company started by some HK people has been in Malaysia for more than 10 years but they have flopped in HK and Malaysia due to bad management and a product scam making use of a prosecuted American named Dr Jeffrey Bland, found guilty of false products claim. Since this case in the US leaked out and many Malaysians found out that the real boss in HK is a Steven Tang(he cheated many Malaysians in another scheme about 20 years ago) their business went down all the way. Now they claim Malaysian partners cheated them and start a new Company in Malaysia. Watch out, this new Company will come out with some investment scheme idea that will get many to lose their money.

17) Arowana Fish Breeding, Oora from Germany, Biofuel(Kompleks Maluri) etc

- These are some newer scams. Arowana fish venture ask you to invest some money and give you fixed return. Biofuel will tell you their Indonesia connections(just like Sunshine Empire before using Taiwan) & Oora from Germany(I never trust those cruel Germans) that market some bio-chips and a gadget that claims to give energy and therapeutic effects of accupunture, tai-chi, yoga, etc depending how you set the toy-like gadget, wear it on your body and you get the effect later. They could not explain or provide any demonstration to prove their effectiveness. Only doctors and papers claim that I will never trust. The health effect is actually PLACEBO, which I will elaborate in a different thread.
Lastly but not least, thank you for reading to the end and I hope you can come back for more details and updates or help to contribute for me to update. I hope to receive information of any scams so that I can share them here to protect others. Although most of those above-mentioned are marketed through direct-selling or MLM schemes, I will soon add non-MLM scams. Please contribute.

If you wish to send me any new information confidentially, you may email them to me at:
stopscams007@gmail.com
Good Luck.
PS. Please pass this link to your friends if you find it helpful and thank you to those who contributed or e-mailed me with informations.

One forumer commented

I would say it depends on how dirty the business itself, some business are dirty such as they pollute and harm the environment but nobody get scammed, right?
Here's a story for herbal life, they advertised in Jobstreet.com for part time job as a company named Starmark Global. I applied for the interview, couple of hours later an American guy called for an interview for next day in one of buildings in Jalan Tun Perak, he did not disclosed specific location, he said just wait at ground floor 15 mins prior the interview. I wonder what is the nature of this business that it cannot disclose its business location? I didn't apply for to be a spy for CIA.
So I went, they called me to up to 11th floor, apparently it's a group brain wash session consist of roughly 10 people including me and about 5 brain washers. At first I was like, of shit this feels familiar, then they start their professional power point presentation, showing Beckham wearing Herbal Life jersey, the american says "look at this ladies and getlemen, David Becham wearing LA Galaxy jersey with herbal life logo on it, this is what you will see in the next couple of months, the business is so good that even David Beckham likes it". I LOLed within my heart
Now you tell me wheather it's a scam or not.

Beware Of Typical Forex Trading Scam

It’s very easy for new Forex trading investors to get taken in by some sort of Forex scam or another. This can include just about any idea under the sun that scammers can come up with. Usually the realm of Forex scams can include, software and e-books that ‘guarantee’ a profit in the Forex market, general false advertising, and even those with fake sites that just take your money and disappear.

The nature of the currency market tends to leave new investors vulnerable to such scams, simply because it fluctuates a lot and little is known about the market by the general population. It’s up to investors to educate themselves on Forex trading, just as they would before making any other investment if they expect to do well. This includes being aware of common scams. In 2001 the US Commodity Futures Trading Commission (CFTC) released nine tips investors in the Forex market should keep in mind when looking for a broker:

• Stay Away From Opportunities That are Too Good To Be True
• Avoid Any Company that Predicts or Guarantees Large Profits
• Stay Away From Companies That Promise Little or No Financial Risk
• Be Wary of Trading on Margin Unless You Know What That Means
• Be Wary of Those Claiming To Trade in the "Interbank Market" because Its ‘Safer’
• Be Wary of Sending or Transferring Cash on the Internet, By Mail or Otherwise
• Scams Often Target Members of Ethnic Minorities
• Get the Company's Performance Track Record
• Anyone Who Won't Give You Their Background Isn’t Worth the Risk

Many Forex scams, as is common with other types of scams, rely on getting dollar signs to appear in their victims eyes in order to pull off the scam. If at any point in the decision making process you start to feel yourself getting overly excited by the prospect of making what seems like easy money, then set your plans aside for the time being and come back to them later. You’ll be much calmer and in a better position to decide if the broker or deal you are interested in is really worth it.

Source from http://www.carigold.com/portal/forums/archive/index.php/t-28824.html

Bank Negara Malaysia Raided Six Companies on Suspicion of Conducting Illegal Foreign Currency Dealings

Bank Negara Malaysia raided AFS Global Holdings Sdn Bhd, Reed Corporation Sdn Bhd, Sigma Platinum Sdn Bhd, Wisdom Spectrum Sdn Bhd, Maxficient Consultancy Sdn Bhd and Practical Support Sdn Bhd under Section 4 of the Exchange Control Act 1953. The Act prohibits any person, other than authorized dealers, which are the licensed financial institutions, from buying or borrowing any foreign currency from, or selling or lending any foreign currency to, any other person other than an authorized dealer. Any person or company who commits an offence under section 4 of the Exchange Control Act 1953 shall, on conviction, be liable to a fine not exceeding RM1 million or to imprisonment for a term not exceeding 5 years or to both.

The raids were conducted at the premises of the companies in Kuala Lumpur and Selangor following complaints received from members of the public. Relevant assets and documents of the companies were seized for purpose of the investigation.

Members of the public are advised to be cautious of investment schemes promoted on the internet, through phone calls or through seminars conducted by individuals or companies that are not licensed or authorized by Bank Negara Malaysia to accept deposits or to conduct foreign currency dealings. A list of all licensed institutions that accept deposits is available on Bank Negara Malaysia's website at www.bnm.gov.my.

Members of the public can contact Bank Negara Malaysia for enquiries and further advice at the following address and telephone contact numbers:

Laman Informasi Nasihat dan Khidmat (BNMLINK)
(Walk-in Customer Service Centre)
Ground Floor, Block D
Jalan Dato' Onn
50480 Kuala Lumpur

BNMTELELINK: 1-300-88-5465 or

E-mail: bnmtelelink@bnm.gov.my



Bank Negara Malaysia
19 August 2008

© Bank Negara Malaysia, 2008. All rights reserved.


Source from http://www.pjnet.com.my/ftopic-14409-0-days0-orderasc-.html

Beware of Danatama Millennium Sdn Bhd

Danatama Millennium Sdn Bhd.

23-1,Block B, Jaya One,
No72A, Jln Universiti, Section 13,
Petaling Jaya
Selangor
46000
Malaysia

This company has opened a branch in klang called Green Buck Resources


Incident :

I went to their interview and training, i found out this company is bit weird.

Here are some weird things about this company:
1. When enter the office, there are only 3 computer over there. (They claimed that the
firm is still new, but it's have been established since May of 2008)
2. The manager over there is more than their staffs. (They claimed the stuffs are out, but i
never see any staffs back to the office during my 3 days training over there.)
3. They keep on posting the vacancy for manager and other professional by offer a high
pay.
4. After the interview, they vacant me without any of agreement, any formal letter, and
WITHOUT basic salary.
5. They not not professional.


According to the forum, Danatama Millenium Sdn Bhd basically is a scam company...they used employment strategy to attract people to invest in "FOREX". After attended 3 days orientation,

"the moment you invest,you wont be able to get your money back because they will make you excited with what you will get but in reality you already loss in equity so that you will top up money to save your balance".

( wake up please those investor or candidates who working there, no more dreaming in this company).

Another fake is their dealer GB Trade also a scam dealer/broker as they never register in NFA (national futures association) which is high risk if you invest in this dealer. You don't know when they will close down and run away, if you do not believed,can go to www.fxgbtrade.com to view their website, such a false & fake.

Some of you wonder why i write this message, because my uncle got cheated, he lost all his retired saving amount. Remember, they trade in USD BUTNOT In Ringgit Malaysia.

i hope my message can save people money and lives. I am here pray to Allah, Buddha & Jesus that my message will reach out to every body who are looking for job and who are come across about this type of company.


Source from http://forum.lowyat.net/topic/840966

Beware of Chip Hup Holdings

Incident:

Chip Hup Holdings is now become "Limpahan Prima Sdn Bhd"

Level 20 unit 09,
Wisma MPL,Jalan Raja Chulan
Kuala Lumpur - 55200
Malaysia

As you all know, 'data entry' job offer nowadays are too good to be true, mostly are scams.

Last December I came across this data entry job in Jobstrxxt from a company 'Chip Hup Holdings'. I then apply for the job and was later called up for an interview.

I was a little startled arriving at the company because it's like a new office environment with only a receptionist desk and some rooms with empty desks, hardly look like an established company, never mind that since it might be a new company. So i proceeded to attend the interview, and the interviewer doesn't look very professional (we only spend less than 5 minutes and the way he conduct the interview is not like my previous job). Then I was told to wait for reply.

One month later, someone from the company called me up for training (I was surprised because I've already forgotten about the job since it's already 1 month passed. So I feel some fishy stuff going on. I'm still doubting is there any sort of trick this company is playing.

I went to the so call "training", which is supposed to be a 3 day trainings. To my surprise there's quite a lot of other candidates there. We are divided into groups for the 'training' session, and for the whole 6 hours we are taught about "Forex", instead of receiving training about the respective job.

According to the forum and my personal judgment, it's not worth attending the interview.
Unless you want to learn some basic knowledge about Forex, it's a waste of time. "The applicants that went through the interview with me all applied for data entry but ended up we were taught how to play Forex".

Sources from http://forum.lowyat.net/topic/912765/+0#entry25831715

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How to avoid Scam Job?

We heard about Scam Jobs everywhere around the world but how to determine and avoid the trapped into those scam jobs? As a Jobseeker, we are looking for the legitimate jobs and work with legal industries. The question is "How to avoid Scam Job?". We have found out some Tips for all jobseekers who apply their job via job site.

Recently, there are many scammers publishing their job vacancies everyday especially those jobsboard. How do we identify it's a legitimate jobs or scam jobs? For those jobsite especially free jobsite, they are lack of control to "phishing" or "filter" out those scam job that cheated and stealing the jobseeker resume without paying even 1 cent to the publishers.

Now, we would like to share some guideline for those who are looking for job and applying the "Legitimate" job and make our life easier.

Avoid Scam Jobs :

1. Avoid "Homebased Data Entry" Jobs.
2. Avoid "Forex Trading" Jobs.
3. Avoid "Make $xxxxx Work From Home" Jobs. Eventhough not ALL work from home are scam but we need to be alert.
   
4. Avoid "Paying Certain amount of money before you join".

Tips :

1. Before you apply any job, googling the "Company Name" of your potential employer.
2. Check the company background and products or services available in your potential employer.
3. Report those SCAM Company to us and we will periodically update those fraud Company Name in this site.

We will always update the SCAM Company Name for your references. You may visit our site to report any incident that happen to you. We Care, We Share, We Love our Communities.