i hear too many 100k usd stories.

i dunno. maybe kelmen can provide statistics.

as apac president and legally hired by tfx, i dunno what he has been busy doing past weeks.

Elites group, how many percent profit this month ?

LOL, unker have been saying, be careful bcoz this is super risky, unker recovered only 50% of AC size, the rest unker target to recover by KLSE within 12 months.

For those who din manage to get out, this is totally too bad

*insert LCW praying meme

if you lost money consider scam ?

if you gain, still a scam ?

I hv read alot of news in the medias about investors being scammed of money from unlicensed investment... but i never heard of the UL got any court actions.

They promotes, you join
They did not lie as they just tell what they were told to tell by the company.
They show you the past performances and past returns as being published by the company.
They did not promise anything that are not promised by the company.
If investors can have proof that they (UL) had deceived with the intension to fraud, ...
Then may hv a case against those uplines.

A unit trust promoters will also not found guilty of anything if what he has presented to the investors info published by the company. And if he did not promise what the company did not promise too.

This post has been edited by MUM: Jun 13 2023, 10:27 AM

yes, scam is scam.

And those loss call this paperloss ?

A way to justify their good night sleep?

can confirm this, have a few relatives that invested way more than that.

Because no 1 is taking legal actions...no 1 is seeking for helps...

For tour convenience :
“ The maximum penalty of a RM50 million fine and 10 years in jail matches that imposed on those who unlawfully promote, or cause to be promoted, a pyramid scheme under Section 27B of the Direct Sales and Anti-Pyramid Scheme Act 1993.

However, it has been reported that legal action can also be taken under the Financial Services Act, the Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, the Interest Schemes Act 2016 and the Penal Code. ”

I believe authority take action late because very little victim reports. If the have thousand reported case, then they will need to take actions.



To read the full article :
https://theedgemalaysia.com/article/bank-ne...investors-court

This case is appearing more often in social media now. Good thing it's being highlighted, as we can see by some of the shocked emoticons lots of people are still not aware of this.

If got time and if are interested, ...Google "quinpay".

Quinpay has a license to operate in Malaysia, ..thus is not an "invisible" entity unlike tfxi in Malaysia.

Investors invest and got many good rewards
Then
Quinpay changes some of its rewards conditions....
Read more about how quinpays works
https://www.gripeo.com/quinreward/

Investors complained ...politicians voiced in the press...
https://dayakdaily.com/senator-lau-urges-im...-left-in-limbo/

Police investigated and the issued statement.
No element of fraud in Quinpay losses
https://themalaysianreserve.com/2022/03/22/...quinpay-losses/

Definitely good exposure

Same like TFXI

I think got powerful family inside

do you talk to your relatives about this?

Past know scams with founders caught and charged..
Jjptr
JJPTR boss, lieutenants charged with fraud
Tuesday, 26 Sep 2017
https://www.google.com/amp/s/www.malaymail....h-fraud/1473613

MBI, ....
Authorities arrest MBI founder, seize more than RM2mil in cash, luxury cars
June 20, 2017
https://www.google.com/amp/s/www.nst.com.my...ash-luxury-cars

More than 5 yrs has passed..... any known updates of how much was fined or jail terms sentenced?

Unless, very big shots are also deceived and kena scammed.... like Genneva Gold....then directors kena kaw kaw...but tfxi has no known directors ( legal entity ownership directors) that resides in malaysia

This post has been edited by MUM: Jun 13 2023, 11:00 AM


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already told one of them last year to not put in anymore money.. guessed I saved them a few hundred k not including the initial 500k-1m that they invested earlier.

another relative was very sure it wasn't a MG so I didn't bother to say anymore and just kept my mouth shut. but they are all pretty rich la so who am I to advise them haha

This post has been edited by Davez89: Jun 13 2023, 12:00 PM

phew, glad they woke up.

not really, some already made back capital some just joined and burned but they are pretty well to do unlike the fella who did compressed loan and then put the cashed out money into it and got fucked.

poor soul to those who just joined, really masuk longkang.

that fella doing well too as a doctor, easily 20k a month if he works hard. his problem is tiny..

Any idea, if they have any plan or done any action to try to resolve that issue? Or they too just let it off too since they are really well off.

Probably too ashame to admit they are too stupid to believe such obvious scam