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NATIONAL 5 theSun on Sunday JUNE 21, 2026

Malaysian Paper

/thesundaily /

111 investors sue firm over RM20.5m losses

Greed, easy money fuel scam losses

KOTA BHARU: Greed and the desire for quick profits have been identified as among the main reasons many people in Kelantan fall victim to investment scams, resulting in losses of RM5.18 million in the first five months of this year. Kelantan police chief Datuk Mohd Yusoff Mamat said investment scams accounted for the highest financial losses among all commercial crime categories, with some victims losing more than RM1 million each. He said victims often continued depositing money into fraudulent investment schemes after being lured by promises of lucrative returns, only realising they had been deceived after suffering losses running into hundreds of thousands of ringgit. “Investment scams account for the highest losses. Some victims in Kelantan have lost more than RM1 million. “Many continue making payments because they believe they will receive the promised returns, only realising they have been scammed after losing hundreds of thousands of ringgit or even more than RM1 million,” he told Bernama. Mohd Yusoff said scam syndicates typically lure victims with promises of unrealistic returns that legitimate financial institutions would be unable to offer. He urged the public to think carefully before committing to any investment, particularly those promising exceptionally high returns within a short period. Meanwhile, commercial crime in Kelantan continued to trend upwards, with 1,219 investigation papers opened between January and May, compared with 602 during the corresponding period last year. The increase involved 617 additional cases, while total losses rose from RM14.11 million to RM20.84 million, an increase of RM6.73 million. According to Mohd Yusoff, e-commerce scams recorded the highest number of cases at 401, compared with 141 during the same period last year. ‘No evidence of bullying in death of student’ REMBAU: No evidence of bullying has been found in the case involving a Form Four student who died at a secondary school in Seremban. Education director-general Datuk Dr Mohd Azam Ahmad said the 16-year-old had reportedly been in good health and had shown no unusual signs before the incident. “Based on my conversation with the deceased’s parents earlier, there has been no indication of bullying or any similar issue. According to the information we received, she was well and behaving as usual when she arrived at school. “However, the state education department and the school have been instructed to conduct a thorough review to determine the circumstances surrounding the incident. At this stage, there is no information suggesting that the student had any pre-existing medical condition,” he said after visiting the student’s family at the Forensic Unit of Rembau Hospital on Friday. – Bernama

investment funds. They are also seeking an order requiring Muhamad Iqbal and Mohd Fairoz, jointly or severally, to indemnify them and pay RM20.5 million in special damages for negligence, misrepresentation and fraudulent conspiracy, in addition to general damages and aggravated and exemplary damages of RM1 million against all defendants. Lawyer Dr Hizri Hasshan, who represented the plaintiffs, confirmed the suit and said the defendants had filed a notice to join AUF MBZ Consortium PLT as a party to the proceedings. The court fixed July 6 for case management. On Feb 20, AUF MBZ and its founder, Datuk Mahadi Badrul Zaman, were charged in the Sessions Court with two counts of operating a securities business without a licence. Muhamad Iqbal, in his capacity as a director of QEW Group Berhad, was also charged with abetting AUF MBZ in alleged unlicensed securities transactions. Meanwhile, lawyer Ahmad Ahnaf Zaimi, who represents the defendants, confirmed that they had received the statement of claim and filed their statement of defence on May 21. KUANTAN: Three people, including a doctor and a two-year-old girl, were killed while six others were injured in a three vehicle crash at Km67 of Jalan Kuantan Segamat near Pekan on Friday. Pekan district police chief Supt Mohd Zaidi Mat Zain said two drivers were pronounced dead at the scene in the 6pm crash. They were identified as Dr Mohamad Zekry Zuhairy Mohd Atan, 33, a medical officer at the Segamat Hospital in Johor, and Azaharuddin Mohd Ali, 46, a senior officer with the Inland Revenue Board in Cyberjaya, Selangor. He said Mohamad Zekry’s two-year-old daughter, Dhea Sofia, died while receiving treatment at the Chini health clinic. Mohd Zaidi said preliminary investigations found that the vehicles driven by Mohamad Zekry and Azaharuddin were travelling from Segamat towards Kuantan when the incident occurred. “Upon reaching the scene, a pickup truck travelling from Kuantan towards Muadzam Shah is believed to have attempted to overtake a lorry before hitting a puddle and losing control. “The vehicle then swerved into the opposite lane and collided with the two vehicles,” he said in a statement. Mohd Zaidi said three members of Mohamad Zekry’s family – his wife, mother in-law and father-in-law – were injured in the crash. Also injured were Azaharuddin’s wife and son, who were travelling in a multi purpose vehicle, as well as the 31-year-old pickup truck driver. All injured individuals were sent to the Pekan Hospital for treatment. “The bodies of the victims have also been sent to the same hospital for a post-mortem,” he added. The case is being investigated under Section 41(1) of the Road Transport Act 1987. – Bernama

Plaintiffs allege directors failed to return capital invested in scheme promoted as secure and Syariah-compliant

KUALA LUMPUR: A total of 111 investors have filed a lawsuit against an investment company and two of its directors, alleging that they failed to return investment capital amounting to RM20.5 million. The investors, aged between 28 and 89, filed the suit at the High Court on April 3 through Messrs Azri & Co, naming QEW Group Berhad and its directors Datuk Dr Muhamad Iqbal Mohamad and Mohd Fairoz Muhammed as the first, second and third defendants. According to the statement of claim, the plaintiffs allege that between 2022 and 2024, they were persuaded by the defendants to invest in the RPS-i Investment Scheme, which was offered, promoted, marketed and managed by the company, Bernama reported. They claimed that before joining the scheme, QEW – through its representatives Muhamad Iqbal and Mohd Fairoz – made material representations regarding the scheme’s structure, dividend payment mechanism, capital protection and compliance with Syariah principles.

The plaintiffs further alleged that the defendants represented, either expressly or implicitly, that the scheme was secure, Syariah-compliant and capable of generating consistent monthly dividends, while assuring investors that their capital would remain protected. According to the claim, dividend payments were initially made as promised. However, the plaintiffs alleged that QEW later defaulted on its obligations when dividend payments were delayed, reduced and eventually stopped altogether. “When questioned over the failure to make dividend payments, the defendants stated that such payments were subject to the company’s absolute discretion, an explanation that was never reasonably disclosed or emphasised as a key risk when the investment was offered,” the plaintiffs alleged. The investors are seeking an order for QEW to repay RM20.5 million and a declaration that Muhamad Iqbal and Mohd Fairoz acted negligently and carried out a fraudulent scheme involving their

Three killed, six injured in Pekan crash

The wreckage of one of the vehicles involved in the crash. – PIC COURTESY OF ‘THIS IS JOHOR’ FACEBOOK PAGE