KUALA LUMPUR, Nov 21 — Capital Dynamics Sdn Bhd managing director Tan Teng Boo is the victim of identity theft and being used to mislead the public into fraudulent investment schemes, his lawyers said.

The law firm Benjamin Dawson said Tan’s identity has been stolen for social media accounts, profiles, advertisements, and chat groups by impersonators offering fake financial advice and investment courses used to defraud victims.

"The real Mr Tan Teng Boo does not have and never had a WhatsApp account for the purpose of giving financial advice and the real Mr Tan Teng Boo and/or Capital Dynamics will never ask their clients and investors to open an account or transfer money via social media platforms such as WhatsApp, Instagram, Facebook etc,” the firm said.

The lawyers said the advice and information put forth by the impersonators were entirely unauthorised and did not represent Tan and Capital Dynamics.

Any of Tan and Capital Dynamic’s investment advice and opinions on the stock market will only be published on the group’s official website, publications, and social media accounts, they added.

The lawyers said they have lodged repeated police reports over the identity theft going back to 2021, and notified the relevant regulators.

Members of the public who encounter or fall victim to such scams should immediately contact their banks and the National Scam Response Centre (NSRC) at 997.

Recent reports related to the theft of Tan’s identity for such investment scams show that is spread across the country, ranging from Johor to Sarawak.