Not sure if this is the right place, if it is not, please let me know and I will move it.

The story goes like this:

2 years ago, I signed up to Healthland massage package as it was affordable and the massage is good. After a while, they invite members to join some talks on the future growth. I attended the session and they had an investment plan where you can invest RM30k, RM50k or RM100k into the company for their growth. I saw the growth at that time as there were many Healthland outlet keep opening. As of now, there are still 35 Healthland outlets.

I invested RM30k with a return of 20% after 2 years and RM5000 worth of Healthland voucher. The agreement is with a company called Healthland Capital Berhad.

When I contacted the director early this year to claim back my preference share as it is due, the person tells me that the money I invested is actually for Future of Wellness (https://www.facebook.com/FutureofWellnessAsia), a somewhat related company to Healthland. This Future of Wellness is now closed and apparently all my money is now GONE!! The director that was in charge with Future of Wellness have now left Healthland (massage division) and move on to do something else. So Healthland Massage have nothing to do with this.

I went and did some check from SSM on the company and there were about 42 investors like me and the company is still active. Unfortunately there is no financial information because the company did not file it with SSM.

I try to clarified this with the director and she say that they did not want to close it because it will be close via a lawsuit of the subsidiary company by one of the contractors and there is no point filing financials because they are closing down anyway.

So, I am stuck on what I can do as I do not know if there is still money in Healthland Capital Berhad.

I have now sent the letter of demand via registered mail to the registered address of Healthland Capital Berhad but not sure if I should proceed further as winning the lawsuit against a company with debts just incurred more expenses to me.

I am just a normal office worker working 9-6pm work so RM30k is a lot. I also know that the odds of me getting back my money is next to none as any balance in the account will definitely be paid to staff, directors and investors friends before me.

Appreciate if anybody have any advice on how to check the financial of the company if it is not disclosed. If you are sincere to help, please PM me and I can share the agreement details and the SSM information on that company. Thanks in advance.

For the rest, you have use this as an interesting read and maybe advice to be more careful on future investment.

This post has been edited by yswon12: May 22 2021, 05:56 PM

Total how much lost? After deduct 20%return and 5k voucher

About RM25,000 if use RM30,000-RM5,000(healthland voucher). The 20% was the expected returns after 2 years.

Same case with fattycrab case

Funny how when someone who supposedly said RM30k is alot, but did not even know where the money he invest into goes!

I thought... I assume...

Due diligence - - - > Google this word to save your life in future

You really did just handover RM30k

Take this as a lesson. It's a premeditated 'scam'. There is no one you can sue to even get 1 cent back.

I am not sure is good to advise you to use good money to chase after bad money aka legal way.

You can start a group with all those investors and discuss your options. Going alone is tough and costly.

Btw, you can also lodge a report to bnm as a formality. Is up to them whether they want to initiate an investigation and to bring the directors to court.

You may not get back your money but some action is taken.

This post has been edited by mini orchard: May 22 2021, 09:54 PM

Investing in a company incurs a risk of total loss of capital. This is the basics of investing. You have zero case against them unless you have reasonable proof there are mala fide elements.

I am not sure about checking the finances of a company but as for getting your money back (partially at least), have you thought of going to the consumer tribunal with the other investors?

TS should make a visit to Michael Chong with the other investors to make a hoo haa. Given enough heat from the authorities, the operators may have to give a partial refund. Leave no stones unturned. At least make more people aware of such scams.

make noise and attract attention. its quite obviously a scam. no shares have guaranteed return, i doubt you are even a shareholder on paper.

Thanks all for the wonderful feedback and advice. I have written off the RM30k taking it as a lesson and move on.

In addition, I have also lodge a report to Bank Negara Malaysia and SSM.

I did notice one of the comment linking this to Fei Fei Crab case. Upon further checks, it was done by a company called MIG Group which did more than the Fei Fei Crab and Healthland Scam.

There is a website dedicated to this.
https://migscam.com/

Fei Fei Crab lowyat thread.
https://forum.lowyat.net/topic/4783642/all

I know people in this forum is smarter than me. So just for your knowledge: Avoid MIG Group.

With this, I thank you all for your advice and will proceed to close this topic.

You can lodge a complain against the company via ssm complaint bureau email. Subsequently you may lodge a police report and file a civil proceedings against the director and the company

Do not let the perpetrator scot free as they would keep on changing company’s name and request for future innocent people as investments

There are many cases these people being hired as shadow director under different Shell companies. I do not Wish to divulge further.

Investment scams are under purview of BNM which have wider prosecuting power.

Unfortunately, BNM did not entertain this as well.

Dear Sir,

We refer to your e-mail dated 24 May 2021 on the above.

We would like to inform you that Bank Negara Malaysia (BNM) does not issue any approvals or licenses to the companies / entities mentioned in your email, so their activities are not under the jurisdiction of BNM. For the convenience of you identifying whether a company is licensed by BNM or otherwise, please refer to the list of financial institutions / companies licensed by BNM on our website as at the following link:
https://www.bnm.gov.my/related-links-pg

If such company is NOT listed on our website, then that company is NOT licensed by BNM to carry out operations or to offer financial products / services.

We would like to advise you to be careful about any form of investment scheme that offers high returns to investors. If the investment scheme clearly offers investment opportunities by collecting public money and the collection or investment is returned within a certain period of time for which the original investment can be recaptured, it may violate section 137 of the Financial Services Act (APK) 2013. If you invest into the scheme, any losses are incurred on your own. We recommend that you invest only in licensed financial institutions.

However, if this is related to the jurisdiction of another agency, you can also consult the relevant agencies such as the Securities Commission (SC), the Companies Commission of Malaysia (SSM) or the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) to confirm more on the following links:
1. http://www.sc.com.my
2. https://www.ssm.com.my/Pages/Home.aspx
3. https://www.kpdnhep.gov.my

If there is a fraud element, you can refer to the Royal Malaysian Police (PDRM) as the fraud case is under the jurisdiction of the PDRM. You may reach PDRM via the following information:

Ibu Pejabat Polis Diraja Malaysia
Bukit Aman
50560 Kuala Lumpur.
Tel: 03-2266 2222
Fax: 03-2070 7500
Website: http://www.rmp.gov.my/

Hope the above clarifies.

Thank you.

Noor
BNMTELELINK
Bank Negara Malaysia
Telephone: 1-300-88-5465

Sorry, my bad. It should be Securities Commission.

You need to check through the agreement that was signed.

1) you been scammed as they funneled your investment to another business and stated that business as winded down due to failure.

2) go to the lawyer if you need but the lawyer fees will incur more than that 30k you may or may not get back.

3) take it as a lesson, invest your money in proper investment vehicles

Firstly, check your agreement first, read top to toe. If there is any term you dont understand , google it.

Now, if your agreement is really between Healthland Capital Berhad, then how healthland capital berhad use the money, not your problem. Since it is already due for the company to redeem the preference shares, then healthland has the obligation to redeem it. Quite simple and straight forward.

So, is all depend on the agreement.

If lets say the agreement so how got mention about Future, or is an agreement with Future, then is your fault for not checking, then you try to reach out Future and deal with Future.

Do You Even know the Role and function of SC? Adoi