The police of Kuala Lampur is all set to initiate the investigations against the currency trading company VenusFX. It is accused of accepting illegal deposits for more millions of ringgits.
According to the recent police reports, hundreds of investors claimed a loss of almost RM 1000. The investors stated that the company promised a 30% higher return on all the deposits made.
The chief ACP of the Commercial Crimes Investigation Department is not ready to comment on anything in detail at present. He has only explained that investigations have started in the matter, and soon the result will come in front of the public.
This is a case of Section 420 that is a case involving fraudulent activities with the intention to harm as per the Penal Code provisions. The people are now getting to know from the police that several such other fraud cases are initiated against the company.
Reliable sources revealed that the business model of the company is a replica of Ponzi schemes. The cases filed worldwide have made the police more aware of the issue. They are taking all the appropriate measures to punish the culprits and bring out the truth in front of the whole world.
It has been known that VenusFX is a New Zealand based company consisting of only a virtual address. There is no physical location of the office where the officials can investigate for verified documents. The company is engaged in various illegal businesses without any authentic license from any financial institution or bank.
It has been found that a businessman and his wife are a part of the scam. Thus they have a deep connection with this foreign company. The duped investors are seeking assistance from the Vell Paari. He is the treasurer-general Datuk. He has promised to be with the victims and called a press conference. The meeting took place in Petaling Jaya, with around 100 members from the affected side.
RM5 million is the deposit amount in an approved scheme of Datuk Seri’s foundation. Vell Paari also revealed that the company could not identify all these while the businessman duped it. Mostly, Malaysian Indians are the poor victims of the scam.
The former treasurer-general stated that” We are not afraid of the meaningless threats of the fraudsters. We will go to the bottom of the case to recover the money of so many people.”
Most disgustingly, the businessman and the upcoming actor collected funds in the name of preservation of the wildlife and environment. The Instagram account of him is the most significant proof for this. Through such posts, he urged for a donation from the public and promised a better life to the animals of Zoo Negara. Targetting such innocent animals for raising funds is really a heinous crime.
However, Gnanaraja and Geethanjali, the alleged couple in the said case, have denied all the accusations. They told the media that all the money was a deposit in the bank account without the knowledge of the foundation. He added, ” We are investigating the facts that who is behind all these. As soon as we came to know of such a situation, we have taken immediate steps to return the funds to the authorised persons. The work is still in progress. “
According to the duo, they have intimated every detail to VenusFX. Moreover, they have also given a list of the affected persons. However, no response was there from the other end.
