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HAS Tedy Teow, the Penang-born ponzi scheme mastermind, spilled the beans?
Thai police have arrested 18 people, including three celebrities, and seized luxury sports cars and millions of dollars in connection with a pyramid scheme selling health and dietary supplements, officers said.
BANGKOK: Thai police have arrested 18 people, including three celebrities, and seized luxury sports cars and millions of dollars in connection with a pyramid scheme selling health and dietary supplements, officers said Thursday (Oct 17).
BANGKOK (Reuters) - Thai police have arrested 18 people and seized luxury goods after receiving nearly 5,600 complaints about an alleged pyramid scheme, saying on Monday they estimate investors have lost at least 1.61 billion baht ($48 million).
Thai police have arrested 18 people, including three celebrities, and seized luxury goods after receiving nearly 5,600 complaints about an alleged pyramid scheme, saying on Monday they estimate investors have lost at least 1.61 billion baht ($48 million - RM215million).
Hundreds of victims of the alleged pyramid-scheme operator iCon Group have emerged in Laos, Myanmar, Cambodia and Japan, while the number of complainants in Thailand passed the 500 mark.
KUALA LUMPUR: Seven people including a Taiwanese have been arrested at a commercial centre in Jelutong, Penang, for alleged involvement in pyramid scheme activities.
Man scammed out of money in fraud racket, becomes desperate. Milks thousands from family for ‘treatment’ of bogus testicle injury.
WASHINGTON (Reuters) - The Securities and Exchange Commission said on Monday it charged 11 people for their roles in creating and promoting a fraudulent crypto pyramid and Ponzi scheme that raised over $300 million from retail investors worldwide, including in the United States.
NEW YORK (Reuters) - Elon Musk was sued for $258 billion on Thursday by a Dogecoin investor who accused him of running a pyramid scheme to support the cryptocurrency.
SINGAPORE: A man and his wife were called the “Adam and Eve” of a multi-level marketing (MLM) scheme by the prosecution, having spearheaded the programme involving more than S$3 million in Singapore.
SINGAPORE: He was the managing director of a firm called Singliworld which lured more than 2,000 investors in Singapore into an “investment scheme” that promised trading returns as high as 13 per cent per month.
A Hong Kong woman who lost millions in a Ponzi scheme that promised investors they would win money gambling against casinos, has failed in her lawsuit to recover her losses from a Singapore couple who got her to invest.
SIBU: Consumers are encouraged to file complaints with the National Consumer Action Council (MTPN) or use the e-KPDN platform to report grievances, following an incident where a consumer was pressured into buying a corset at a high price.
Teow’s MBI Group duped thousands with fake high-return investments, leading to his extradition to China on massive fraud charges.
BANDAR SERI BEGAWAN: Bank Islam Brunei Darussalam (BIBD) representatives highlighted real-world examples of scams, sourced from customer complaints and viral social media posts, during the ‘Digital Warga Emas’ initiative, an ongoing programme by the Authority for Info-communications Technology Industry of Brunei Darussalam (AITI).
BANGKOK: In an interview televised on Monday (Oct 14), iCon Group CEO Warathaphon Waratyaworrakul emotionally declared that he will provide support for people who have fallen victim to his company’s alleged Ponzi scheme.
KUALA LUMPUR: Malaysian fugitive businessman and MBI Group founder Tedy Teow has been extradited from Thailand to China.
Here's a look at the news highlights from Asean countries in the Star-AseanPlus section for Monday (Oct 21, 2024)
