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How an alleged Malaysian scammer vanished with US$25 bill...
The Star · 2026-04-23 · via South China Morning Post

For more than three years, the numbers on their screens told a convincing story.

Steady gains, smooth withdrawals and returns of up to 5 per cent every fortnight.

Encouraged by the early outcome, many doubled down, pumping in more of their hard-earned savings into a scheme they thought was the answer to luxury and a comfy retirement.

Then, almost overnight, the kill switch was flicked and they lost it all to a scheme that swindled ­victims across the globe of close to 100 billion ringgit (US$25 billion).

On Tuesday, more than 300 ­foreign nationals arrived in Malaysia to seek justice after allegedly losing more than 8 billion ringgit to a fraudulent online investment scheme believed to be run by a Penang-based Malaysian, their lawyer Andy Yeoh said.

The victims, mostly small-time businessmen and salaried employees, consisted largely of mainland Chinese nationals along with ­others from Taiwan, South Korea, Thailand and Vietnam.