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Singapore police have arrested a 49-year-old woman for promoting Fun Coffee, a cryptocurrency investment scheme that promises unrealistic returns. The platform has drawn scrutiny from authorities across Hong Kong, Macau and Singapore.
A former unit trust consultant has been convicted and sentenced to 18 months imprisonment plus a RM2 million fine for perpetrating investment fraud against clients.
Malaysia's KWAP pension fund has disclosed a RM163.4 million loss stemming from fraud at Indonesian aquaculture startup eFishery, reassuring stakeholders of enhanced oversight and recovery measures.
Malaysia's Retirement Fund (KWAP) is pursuing multiple avenues to recover its RM163.4 million investment in eFishery, an Indonesian aquaculture company caught in a deliberate fraud scheme. The fund has strengthened its private markets investment approach.
Prime Minister Anwar Ibrahim has disclosed that the Retirement Fund (Incorporated) was deliberately misled into a RM200 million investment in eFishery, even though the fund conducted comprehensive due diligence before committing the capital.
Malaysia's Court of Appeal has upheld a RM28 million judgment against Singaporean businessman Chan Cheh Shin, finding he actively promoted fraudulent investment schemes through organised seminars and roadshows.
A 47-year-old Singapore man convicted of bribery in June now faces 100-plus fresh charges related to fraudulent investment schemes worth over S$50 million. Nazarisham Mohamed Isa allegedly operated schemes promising returns that had no legitimate business backing.