RM104.9 Million Gone: Why Hundreds Are Demanding a Full MACC Investigation

The Malaysian International Humanitarian Organisation (MHO) has asked the Malaysian Anti Corruption Commission (MACC) to investigate a group of local companies accused of running investment schemes that left 276 people facing losses of almost RM104.9 million. The affected investors were involved in programmes linked to property investments and Shariah redeemable shares, also known as I-RPS.

According to MHO secretary general Datuk Hishamuddin Hashim, the organisation received a series of complaints from individuals who believed they had joined legitimate wealth-building programmes. Many later reported that the companies failed to deliver the promised outcomes and had possibly used investor money for purposes that were never explained or approved. These accounts raised concerns about serious mismanagement and misleading practices.

Hishamuddin said the victims now want the MACC to conduct a full investigation under Section 18 of the MACC Act. He explained that investors began experiencing problems soon after making their contributions, and several of them struggled to obtain clear information about how their funds were being handled. He shared these details at a press conference after filing a formal report at the MACC headquarters on Monday. A number of victims were present during the announcement.

One of the most troubling aspects of the case, according to Hishamuddin, was the way the companies promoted themselves. He said they used well-known public figures to attract attention and build trust. Some promotional materials featured individuals said to hold the title of Tan Sri, along with respected Shariah advisers. This created the impression that the programmes were trustworthy and professionally managed. It also played a major role in persuading many investors to participate.

For the victims, these familiar names signalled credibility and stability. Many believed they were investing in programmes supported by reputable people with proper oversight. However, once difficulties emerged, the investors discovered that recovering their money or receiving clear answers was far more complicated than expected. Complaints described delays, confusing explanations and a lack of transparency about how investment funds had been used.

Hishamuddin added that the victims are prepared to give their full cooperation to the MACC. They have collected extensive documents, including payment records, agreements and communication logs. He said they are ready to submit all of this information to support the investigation and to help establish what actually happened. Several of the affected individuals invested large portions of their savings, and many are now facing serious financial pressure.

Experts warn that schemes involving property-linked investments or shariah structured products can be difficult to evaluate, especially for retail investors. This makes it easier for dishonest companies to hide irregularities. The use of prominent names only adds to the confusion, as many investors assume that respected individuals would not allow their names to be linked to questionable ventures.

With losses reaching almost RM105 million, the affected investors hope that the MACC will bring clarity, accountability and eventually justice. They want to understand how the schemes were managed and whether any laws were broken.

It is crucial to remember that attractive promises and famous names do not always guarantee safety. Proper checks, regulatory verification and careful consideration remain essential before committing any money to investment programmes, no matter how convincing they may appear.