67 reports have been filed from i-Serve Online Mall Sdn Bhd’s investors, involving a total loss of RM81.69 million.
According to FMT, the e-commerce company is linked to MYAirline co-founder Datuk Allan Goh Hwan Hua.
Bukit Aman Commercial Crime Investigation Department (CCID) Director Ramli Yoosuf was quoted saying that investigations are currently underway.
We have opened the investigation under Section 420 of the Penal Code (for cheating). We urge other victims to immediately step forward and file a report.
Bukit Aman Commercial Crime Investigation Department (CCID) Director Ramli Yoosuf
According to their website, i-Serve is a fintech organisation that also specialises in web and app development, online payment and e-commerce solutions.
Reports state that i-Serve and its affiliates were fined a total of RM50 million by Bank Negara Malaysia for violating the Financial Services Act 2013 (FSA) and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Amla).
It was also reported that the companies accepted deposits from the public without a licence and engaged in transactions that involved “illegal deposit-taking activities” between June 2018 and September 2021.
