Date palm investment scheme firm raided

KUALA LUMPUR, 10 Aug 2017:

The Companies Commission of Malaysia (SSM) yesterday raided the office of a company suspected of offering dubious interest scheme with promising returns to the public.

Deputy CEO (Regulatory and Enforcement) Nor Azimah Abdul Aziz said the company was believed to have been active in getting the public to invest in its  date palm planting schemes in Kelantan, Terengganu and Johor.

“Checks reveal that the date  tree-planting scheme is not registered with SSM, or any other enforcement agencies in Malaysia,”  she told a press conference after the raid.

She said the raid was conducted by 10 officers from the SSM Investigation Division following a  a complaint from an investor who was offered to participate in the the scheme in December last year.

She said investors were promised returns on investments  of between RM3,000 and RM5,000 per tree

– Bernama

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