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The following is a list of reported scams and scandals in Malaysia since independence. These include political, financial, corporate and others. Entries are arranged in reverse chronological order by year. The year is the one in which the alleged scam was first reported or came into knowledge of public.
МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time. By different estimates from 5 to 40 million people lost up to $10 billion. The company started attracting money from private investors, promising annual returns of up to 1,000%.
BurnLounge (shut down as pyramid scheme by FTC in 2012) Equinox International (dissolved in 2001) European Grouping of Marketing Professionals /CEDIPAC SA (dissolved in 1995) European Home Retail (dissolved in 2007) Fortune Hi-Tech Marketing (dissolved in 2013)
Malaysia will require social media services to apply for a license if they have more than 8 millon users in the country from August 1, in an attempt to combat increasing cyber offences, said the ...
The Bank of England refused to advance money, and it collapsed. The directors were sued, but exonerated from fraud. Friedrich Krupp. Germany. 1873. Steel, metals. Krupp's business over-expanded, and had to take a 30m Mark loan from the Preußische Bank, the Bank of Prussia . Danatbank. Germany.
t. e. The 1Malaysia Development Berhad scandal, often referred to as the 1MDB scandal or just 1MDB, is an ongoing corruption, bribery and money laundering conspiracy in which the Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB) was systematically embezzled, with assets diverted globally by the perpetrators of the scheme. [1]
Other types of non-violent crime include credit card fraud and motor vehicle theft; [12] there is a high rate of credit card fraud. [12] [13] Scams are a problem in Kuala Lumpur which involve card games and purchase of gold jewellery. [11] However, in the early 2010s, Malaysian society was rocked by several high-profile murders of tourists.
The good news is that scams operate in many known area codes, so you can avoid being the next victim simply by knowing the list of scammer phone numbers. Trending Now: Pocket an Extra $400 a Month ...