My RM1,000,000 Lesson - If your business partner always say 'You dont trust me ah?!' without revealing anything - This is the big lesson.

TLDR:
1. A give shares to B as early employee like 4%
2. B pakat with Datuk FIL gang up and got like 700k damage via forge cheques
3. Do alot things indirectly to make company die
4. Buy property somemore
5. Many tactics to delay legal.

Anyone had similar experience?

What will happen if the company bankrupt

My RM1,000,000 lesson: A real story of Fraud, Trust and Survival

This post has been edited by sunday988: Oct 22 2024, 06:54 PM

Anyone tell me 'You dont trust me ah?!', i will tell them very bluntly "NO! I don't".

This I kena. Lost the whole company. I wasted my 5 years afford and investment.The company is now worth around 5 million. But luckily I made a comeback and growing. 

Scammer everywhere.

thankfully, less likely to happen as we move away from cheques and embrace online banking

Why 4% can go claim till 700k ?

How can bank pass a forge cheque
Even I write 30k or TT 50k bank will call me up to confirm

Good luck thou , if u the sole account holder some thing happen the business can go down very fast due to cannot access any fund .

Something I couldn't fathom is how some people can even trust u dun trust me ah these words

In my dictionary, u need to show proof, there's just no way to do things

How do you meet this fraudster in the first place? He apply to work in the company?

Give 4% company share to 1 employee. LOLWUT
Reminded me of a story of 1 Japanese hamsaplou give the Power of Attorney to his malaysian secretary....so that's the secretary can managed the company when he temporary went back to Japan for holiday......end up losing the company.

LOL

This post has been edited by ApocalypseSoon: Oct 22 2024, 08:54 PM

What SOP you implement to prevent this from happen again?

dont clik skee virusses

transfer to own account

doesnt seems smart or true

normally companies have accounts that require auth through the bank app from multiple signatories for transactions above a set amount
maybe 2 out of total 4 signatories

family business is sucks :X

Not about shares, as long as need 2 directors sign - and he forged the another part to get the money.

Why even give directorship to an employee? Rookies mistake.