This plan will success or not depend on the management, it will be successful plan or turn out to be a scam is totally depend on the so call CEO and his team, i would like to know more the details of the management, in case it turn down, i will know who i will blame for and sue.

Aside karen, r u really a irc member? as ur posting more like ruining IRC image.

Hi Crystalkhor,

Some of my friends already send their detail to your gmail. I did forward my issues to Philip before and he ask me check with Leong again (until today no respond). Ok, as what you said, give the new management sometime.. How long it will take to solve the problems? Another month? Years?? Appreciated your help here and please do update us on the progress since i my upline is helpless (or maybe he don't even know what should he do too).  For Karenn, don't even challenge me kids!!  Since you really have the confident about your investment, so buy more and invest more. You may borrow more money from your relative, friends and maybe loan shark as well. Pump in all your money and hopefully your investment will be the money for them to return back to me.  PM about your upline contact detail, i will personally call him/her to "clarify" with him on my statements here. Growth up girl...

Jas999, since IRC is doing so well, why don't they just buy back your units outright? or get one of their successful upline to buy you out? Way I see it, it should be a plus for them as get more returns, right? And it beats the bad publicity of them not paying you your returns 

Losing all in get-rich schemes


PETALING JAYA: The lure of making a fast buck or easy money has opened up opportunities for various organisations to come up with ingenious ways to attract the public to invest.

Such schemes, known locally as “skim cepat kaya”, have made Malaysians lose millions of ringgit.

According to the police’s Federal Commercial Crime Investigation Department, there were 17,311 cases opened for investigation last year, a massive jump of 26.6% from 2007.

The department said that one bright spot in all these cases was that actual financial losses were down to RM845mil last year, compared with RM1.9bil in 2007.

Most of these schemes thrived in “grey areas” which can only be loosely regulated despite the best efforts of the authorities to clamp down on culprits.

Many of them operate under the guise of multi-level marketing operations which blur into pyramid schemes, which are illegal.

A market observer pointed out that these establishments would promise returns that even top fund managers found hard to attain in good economic times.

Many of them operate like Ponzi schemes which made no or little actual investments from money collected from the public.

Often in such schemes, the earlier investors would usually get some returns, compared with those who join later.

Surprisingly, many of those who are employed as agents with these businesses do not think such schemes are illegal.

“How can it be a scam when I can make money?” an agent attached to an established restaurant chain said.

The restaurant has half a dozen outlets in the Klang Valley and offers the public membership for a fee which entitles them to make money from eating at the outlets and through referrals.What makes it interesting is that several of these establishments found taking deposits or cash from the public have been operating for a number of years without ever being questioned by the authorities if their operations are legal.

In the past one-and-a-half years, there has been a significant rise in such operations.

Their aggressive and “successful” marketing approach has even become somewhat of a trend, and has been adopted by many other restaurants to boost sales.

If one were to google the term “scams in Malaysia”, one would find a slew of businesses which concerned citizens have exposed as a “bit dodgy”.

However, the people who run such operations appear nonchalant about the amount of media and Internet attention on their businesses.

They are able to navigate their way around existing laws and capitalise on their marketing strategies before the law catches up with them.

Starprobe decided to investigate a number of these business operations to find out their modus operandi following a number of helpful suggestions from concerned readers and members of the public, especially cases which relate to non-financial institutions.

The response from an official of the Registrar of Companies (ROC) was that it had no jurisdiction to control the activities of such companies.

“If the company is registered with an identifiable business, how they market their products or services is not within our purview,” the official said.

But with regards to companies illegally taking deposits without having an investment licence, Bank Negara has the right to investigate and prosecute them. In fact, from last year until now, 19 companies have been under investigation and raided.

While the authorities are trying their best to enforce the laws, the sheer number of these operations make it an uphill task.

The situation is compounded by having different agencies with different jurisdictions conducting investigations independently, thus not giving a clearer picture.

For example, Consumer Claims Tribunal chairman Rungit Singh said his tribunal has jurisdiction only over consumer complaints and concerns. The tribunal is under the purview of the Domestic Trade and Consumer Affairs Ministry.

“Once a person invests in a scheme, that person is not protected under the consumer laws,” Rungit Singh said.

According to him, consumer laws only cover complaints regarding goods and services and do not have jurisdiction over investors.

And on multi-level marketing, an official from the Consumers Association of Penang said such companies were perfectly legal as long as they were licensed by the Domestic Trade and Consumer Affairs Ministry.

“However, some multi-level marketing operations get into grey areas when the bulk of their sales are not derived from products or services but rather from other forms of collections,” she said over the phone.

She added that a sign of a possible scam was when most of the earnings of the company is derived from activities unrelated to the sale of goods or services.

According to a commercial crime lawyer who did not wish to be named, the law regarding legal and illegal activities was clear.

“However, access to critical information may be time-consuming and the prosecution of those who deliberately go against the law will require substantial evidence,” he said.

The lawyer said there was a need for easier and quicker access to information on registered businesses, possibly delivered via a centralised system and an oversight board with experts for the public to turn to for complaints, advice and information on confirmed scams.

“There is a need for a quicker mechanism to identify and respond to scams before more people lose their money,” he said, adding that many of the scams had invested little in their marketing strategies and did not have a business continuity plan.

The lawyer said it should be noted that there were also a number of people who were either gullible or prepared to take higher investment risks driven purely by greed, despite the best of advice.

A source who tracked such scams said it was near impossible to keep tabs efficiently on them.

“That’s the biggest problem, there are thousands of such scams involving hundreds of millions of ringgit out there that the relevant agencies are not able to track all of them. They’re only able to pursue the ones that have been brought to their attention,” she said.

She added that the answer was not more regulation but more awareness of such scams.

“Awareness is better now than before, we have more inquiries coming in on various businesses,” she said.

.... full article below:

Im happy the Star newspaper finally frontpage such schemes.
source: http://thestar.com.my/news/story.asp?file=...1&sec=starprobe

Hopefully potential investors can smart up with their hard earned $$$. Don't really care about current investors coz its their choice and they've sunk more than just one feet into such schemes. Hope they dont pull their beloved frens and family members into the water.

later MISS.karenn will say u guy just bullshitting....

steven tea garden. similar like IRC.

The restaurant has half a dozen outlets in the Klang Valley and offers the public membership for a fee which entitles them to make money from eating at the outlets and through referrals

IRC has landed in Ipoh now ..

Just sit back and enjoy the show while the bubbles is getting more and more.
It will be a very loud *pop* when the bubbles start bursting.