Malaysian Investors Allegedly Duped by Travel Company
The investors say they were promised monthly dividends in alleged rental car investment scheme.
A Malaysian travel company’s chief executive has been accused of fraud in an alleged rental car investment scheme, according to Malaysia’s The Star Online.
About 70 people on Jan. 3 filed a police report against Datuk Adzhar Sulaiman, chief executive of Noradz Travel and Services, claiming they did not receive dividends that were promised to them after investing in the alleged scheme. Sulaiman and his two daughters, Noradzma Adzhar and Noradzrin Adzhar, were charged with 360 counts of money laundering amounting to 60 million ringgit, the official currency of Malaysia. Investors say they were promised monthly dividends of 250 ringgit for each car after investing 3,300 ringgit for a car. They claimed that the number of investors numbered in the thousands from all over the country.
In October, the company was raided by Bank Negara, the central bank of Malaysia, on suspicion of illegal deposit taking and money laundering.
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