satu lagi skim ala2 MLM yg tgh bermasalah ni…
total deposit dari public lebih 21 juta…tapi total charge kalau salah 500k aje….kayo2
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Bernama online, 9 February 2010
The executive director of Syarikat Island Red Cafe Franchise Sdn Bhd and his son, who is a director of the company, pleaded not guilty in the Ampang Sessions Court Tuesday to three counts of cheating and misleading investors of over RM1 million.
Teow Wooi Huat, 44, and Teow Chee Chow, 21, are charged with committing the offence at the company’s premises in Pandan Indah between Jan 1, 2008 and Feb 28, last year.
They are charged with fraudulently inducing 93 people to invest RM1,040,400 in a programme called the “Island Red Cafe”.
They can be fined up to RM30,000 or seven years in jail or both upon conviction under Section 366(3) of the Companies Act 1965.
Both of them are also charged with refusing to comply with Section 15(1)(d) of the same Act, by inviting the public to deposit a total of RM21,320,100 into the company’s account for the Island Red Cafe programme for a period of five years.
For this offence they can be fined up to RM250,000 or jail up to 10 years upon conviction.
They also face a third charge of offering the company’s shares to the public through a programme called Island Red Cafe although at that time the company was not involved in buying and selling shares.
They can be fined up to RM250,000 or jail up to 10 years under Section 363(5) of the same Act.
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Thestar online, 1 February 2010
Victims claim loss of RM10mil in cafe chain investment scheme
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