Wednesday July 22, 2009
300 hit by crab farm rip-off
KUALA LUMPUR: More than 300 individuals who harboured the dream of becoming successful crab farmers may have fallen into an investment scam that raked in tens of millions of ringgit.
To date 44 of the investors have lodged complaints with the Consumer Claims Tribunal, claiming losses totalling RM3mil.
Victims of the scam all relate a similar story.
They were taken in by advertisements in local newspapers following which they paid a RM280 to attend a one-day crab farming course organised by a company.
Mohd Hadzri Dollah, 48, from Kelantan said that the plan was supported by references and claims of a subsidy from the Fisheries Development Authority (LKIM).
He said investors were even taken on tours of “successful” crab farms, in Seremban, Malacca, and Kuala Kurau in Perak.
“They told us that for every 1kg of crab we sold, LKIM would give us a subsidy of RM1.35,” said Noreen binti Abdullah from Sungai Buloh during a press conference held yesterday at the MCA Public Services and Complaints Department at Wisma MCA yesterday.
The press conference was jointly organised by Umno Youth who was represented by its community complaints bureau chairman Datuk Muhd Khairun Aseh.
Noreen said investors were also told of a buyback guarantee at a rate of RM7 per kg for soft-shelled crabs and RM28 per kg for hard-shelled crabs.
The victims paid between RM6,000 and RM7,500 to buy farming sets, which include fibreglass tank sets and 120 juvenile crabs for each tank, from the company.
Some of the individual’s invested between RM6000 and RM660,000.
Muhd Khairun said there was a need to verify the status of the company with the Agriculture Department.
If you have encountered the same scam and are seeking support, contact Persatuan Penternak-Penternak Ketam via its e-mail address hadzri61@yahoo.com.
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