Police should start investigations into series of recent charity events in Tawau organised by Zhang Jian Jewellery Sdn Bhd, a company owned or related to Chinese national and self-proclaimed “future richest man in the world” Zhang Jian.
DAP Sabah is concerned about the revival of Zhang Jian multi-level marketing business in Malaysia. Zhang, the founder for YSLM which first came to prominence in year 2014 amid controversial allegation that the company could very well have been duping people out of money via pyramid and get-rich-quick schemes.
The same year, the domestic trade, cooperatives and consumerism ministry claimed YSLM was a direct sales company that was not registered with the Companies Commission of Malaysia (SSM) and was operating without a ministry license.
Zhang was also reportedly arrested in Thailand in late 2014 for allegedly cheating RM605 million from thousands in China, Malaysia and Thailand.
The case caused uproar in Malaysia but Zhang, the self proclaimed future richest man in the world was arrested and jailed in Thailand instead. After he released from the imprisonment, now he is issuing virtual coin called Wu Xing Bi, making a comeback in Malaysia.
It is worrying that a charity event was conducted in Tawau two days ago, with Datuk Nizam Titingan, political secretary to Sabah Chief Minister, witnessed the handing over of RM10,000 donation by the controversial Zhang Jian Jewellery Sdn Bhd to a group of Malay based NGO in Promenade Hotel.
Does Nizam aware of the background of this company? His presence there could be seemed as some sort of endorsement to the Wu Xing Bi. He should be more sensitive with the issue, as he is a top officer of the state government, it would imply that the BN state government is encouraging the public to get involve in controversial scam.
Why is it so difficult to wipe out illegal fund raising activities? Apart from using Anti- Money Laundering Act, the authorities are also using Banking and Financial Institutions Act 1985, Direct Selling and Anti-Pyramid Scheme 1993 to nab the culprits. If the law is insufficient, the law can be amended too.
Due to lax in enforcement, money game is mushrooming over the last few years. In the name list of unauthorized and unapproved companies, the number has increased from 271 to 288 companies. Many of them are companies involving in forex and gold investments.
They are not 10 or 20 but 288 companies. Since relevant information is available, why not bring them to book instead of just blacklisting them? I do hope the relevant authorities should play active role in curbing the get-rich-quick activities.