The Malaysian Insight

SEVENTY-ONE Chinese nationals have lodged a police report at Bukit Jalil police station after being allegedly misled to invest in Monspace (M) Sdn Bhd.

Lawyer Shahrul Nizam Azwir who represented the 71, said they had invested from China in September last year and were promised returns five times their investment within six months.

“They received a certificate of investment in November. They were promised profits in April this year but that did not happen. They want to at least get back their capital,” said Shahrul.

Shahrul said there were more people in China who had invested in Monspace in 2015.

The Chinese investors today gathered at Monspace headquarters in Bukit Jalil but were refused entry.

A man who identified himself as a Monspace representative told the Chinese nationals that if they wanted their capital back, they would have to list down their names and investment numbers.

Selangor DAP committee member Ronnie Liu said the victims were promised refunds if they submitted their names to Monspace and did not lodge a police report.

However, fearing that their records with Monspace would be deleted, the victims refused to give their names and went to make a police report.

“The 71 present today lost around seven million renminbi (RM4.38 million) in total.

“The investment was made in China. However, the company was outlawed there and it continued operations here,” said Liu.

Liu said he would bring the Chinese nationals to Bank Negara and the Domestic Trade and Consumerism Ministry tomorrow morning to try to have the investigation expedited.

Zhan Chun Hui, 43, the group representative, said there were claims that more than two million Chinese nationals were involved in the scheme in China.

“Initially the victims did not know it was a money game and the company came up with attractive methods and schemes that misled the victims,” Zhan said.

A Monspace representative, Decker Yap, told The Malaysian Insight over the phone that Monspace will “probably have a meeting soon” to discuss the matter.

“I am responsible for the restaurant side of Monspace only; (they) only want to cause problems. If (they) have problems (they) should ask company people. Why bring so many people. Of course they won’t let you in, like gangster.

“The company will most probably have a meeting on this,” he said and hung up.

Last month, 19 Chinese nationals also claiming to have been cheated by Monspace lodged a report at the Dang Wangi police station.

Bank Negara Malaysia added Monspace to its Financial Consumer Alert list on May 11. – June 15, 2017.