TAWAU, Dec 27 — A businesswoman here, claimed she has fallen victim to a gold investment scam involving over RM5 million, including investments from 300 other investors.

Zerina Collection owner Liana Friska Ramle said she invested a total of RM3.17 million, while the 300 investors invested RM2.18 million, all of which was then handed over to the suspect who claimed to be a representative of a gold investment company.

She said the female suspect promised substantial returns to all investors, ranging from five to 15 per cent within 10 days or RM25 for every gram of gold invested, and the capital would be returned gradually according to the agreement.

"In short, this agreement includes the first business partner’s (suspect) commitment to return the capital to me within three months and in phases, as well as the agreed-upon stages of capital repayment.

"In May, June, and July, investors received profits, but none were received starting from August. Subsequently, the capital repayment that was supposed to be made in October, November, and December was also not received and a police report was lodged on December 14,” she told a press conference here today.

Lawyer Abdul Ghani Zelika, representing Liana Friska and several other victims, said a letter of demand was sent to the suspect on December 11, and after failing to get any response from the party involved they are currently in discussions to file a lawsuit.

Meanwhile, MG Jewels business representative Ale Rahman Abdul Rauf said the company also fell victim to the gold investment scam since May, resulting in losses amounting to RM2.36 million.

Tawau district police chief ACP Jasmin Hussin, when contacted confirmed a report was lodged, adding that an investigation has been initiated under Section 420 of the Penal Code. — Bernama