This Scam is Misusing Tun M, Bank Negara & Finance Ministry’s Name to Cheat M’sians

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A reader not too long ago reached out to WORLD OF BUZZ asking us to show a gaggle of people who find themselves dishonest tons of, if not hundreds, of gullible victims’ hard-earned cash. For his personal security, he has requested his identification to be saved nameless.

He instructed us that the modus operandi of this syndicate is similar to the one utilized in Dana Haji Jasman, a syndicate that has been blacklisted by Financial institution Negara Malaysia in 2012 for swindling chilly exhausting money out of its victims.

Right here’s the screenshot of Dana Haji Jasman being blacklisted on BNM ‘s web site.

Supply: Financial institution Negara Malaysia

Lengthy story quick, this syndicate claimed that there’s an enormous fortune belonging to the Malay Rulers (Raja-Raja Melayu) that was saved in England and that the British authorities had allegedly promised to return the fund value RM2,400 trillion after 100 years. Appears like a fairy story to us! 

The syndicate then began providing engaging packages to lure victims into contributing cash to carry residence the fund. For instance, a member who chips in RM100 is entitled to get RM1.5 million in return. The return will improve in tandem with the quantity invested. 

This Scam is Misusing Tun M, Bank Negara, Finance Ministry's Name to Cheat M'sians - WORLD OF BUZZ

As loopy because it sounds, it was estimated that over 160,000 traders have participated on this rip-off as of March 2015 however they by no means received paid a single cent. Dana Haji Jasman has since been blacklisted, however its legacy lives on as new syndicates utilizing comparable techniques have been mushrooming prior to now years.

One among them is the Barclays Personal Funding Challenge (BPIP). 

In essence, the members of BPIP are required to speculate as little as RM100 and inside a brief time frame (often inside every week or two), they’re assured a return of wherever from RM75,000 to RM5 million, relying on the quantity and funds invested.

Under is the package deal provided within the BPIP Whatsapp group, which ensures RM10 million in money with an funding of simply RM200.

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When it’s time to pay the traders their returns nevertheless, the leaders would provide you with excuses to justify why the fee needed to be delayed.

Massive names reminiscent of the previous and present PM Tun Mahathir had been even used to persuade the victims and stop them from leaving the group. 

Simply have a look at the screenshot beneath.

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The BPIP group admin even despatched an image of a pretend letter bearing the identify of the Ministry of Finance (MOF) and Financial institution Negara Malaysia to persuade the ‘traders’ negotiation between the federal government and the ‘administration’ is ongoing.

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Faux supporting particulars reminiscent of a photoshopped image and pretend mission serial quantity had been despatched into the group as properly.

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“Berita Terkini: Dana BPIP berjaya bantu kerajaan, 20 ribu pelabur akan menjadi billionaire di Malaysia.”

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We’ve contacted the MOF and was instructed that there isn’t a ‘Bahagian Penguatkuasa Kewangan’ throughout the ministry whereas Financial institution Negara Malaysia particularly instructed us that they don’t seem to be concerned in such an association. 

Under is the reply from Financial institution Negara Malaysia.

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We had been knowledgeable that the victims encompass retired troopers, policemen, taxi drivers, and even extremely educated professionals. They see themselves as billionaires by Might however till now (August), none of them have acquired any cash.

Within the meantime, the group chief who recognized himself as Dato Lokman got here out with extra engaging prizes reminiscent of a Toyota Vellfire, Lamborghini Urus (value RM1 million), Habib vouchers value RM100,000, and 1kg of gold bars to lure the victims into investing extra. The quantity wanted is often round RM50 to RM100 solely, in order that the victims wouldn’t hesitate to fork out the cash.

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Moreover BPIP, our supply revealed that there are different comparable teams which can be working utilizing an identical modus operandi however below completely different names. They’re:

  • Roll Over Program (ROP)
  • Self Made Millionaire Group (SSMG)
  • Geran Dana Keusahawanan 2020 (GDU 2020)
  • Dana WIH (Dawih)

We’re nonetheless engaged on authenticating the teams talked about above with the authorities.

If the police don’t come down exhausting on these scammers, extra middle-class Malaysians will fall into this lure. Hopefully, this text could be a wake-up name to hundreds of naive traders who’re nonetheless dreaming of changing into a billionaire in a single day.

 

Additionally learn: 76yo Man Will get Scammed Out of RM180,000 by Kids Who Misused Pakatan Harapan’s Title

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