PETALING JAYA: Just days after the expose on JJPTR, more forex schemes are falling apart, with investors losing billions of ringgit. They began accusing the scheme’s founder, who goes under the handle “Vanguard of Farmers” on WeChat, of swindling them of some RM1.2bil. Investors were promised 7.5% returns weekly, which is equivalent to 30% a month. Money game player Leon Hong claimed many of those who invested in such schemes knew that they were “scams” from the beginning. Related stories:A whopping RM400mil lost to investment scams, says CCIDTake measures to stop money games, says Bank NegaraVirtual money scheme offering 24% returns

Source: The Star April 28, 2017 23:16 UTC