Fraud
Malaysian-Born Ex-CEO Accused of Embezzling US$700 Million to Fund Lavish Lifestyle
Patrick James, Malaysian-born ex-CEO of First Brands, accused of siphoning company funds for luxury homes, cars, and private indulgences.
Category: Fraud
Scams
Meta Rejects Claims of Profiting from Scam Ads, Calls Reports “Selective View”
Meta defends anti-scam measures after reports allege billions in revenue from fraudulent ads, with MCMC launching investigation.
Crime
TikTok Job Scam: Malaysians Duped into Becoming Drug Mules with Promises of High Pay
Four Malaysians were arrested for allegedly trying to smuggle 86kg of cannabis worth RM8.3 million from Penang to Manchester. TikTok Jobs Scam!
Scams
Malaysian, Singaporean Among 24 Arrested in Thailand in Crackdown on Scam Syndicate
Thai police arrested 24 suspected scam syndicate members from Myanmar, including Malaysian and Singaporean nationals, tracking their refuge in Thailand.
Singapore
Singaporeans named as masterminds behind $41m Cambodia scam ring
Two brothers and their cousin were identified as leaders of a Singapore-based scam syndicate operating in Phnom Penh, Cambodia.
1MDB
Najib Named Main Beneficiary of RM2.28bil 1MDB Funds, Court Told
The High Court was told that Datuk Seri Najib Razak was the main beneficiary of RM2.28bil misappropriated from 1MDB.
1MDB
Najib’s Lawyer Claims Jho Low made US$1.9 million from 1MDB, not Najib
Najib Razak’s lawyer argued that former 1MDB CEO Shahrol Azral benefited from his position secured through Jho Low’s recommendation.
Funding
PTPTN: 30% of Loan Defaulters Are Having A Good Time Holidaying Abroad
PTPTN revealed that nearly a third of loan defaulters can afford foreign trips despite failing to repay study loans.
Fraud
Drug Syndicates Hide Narcotics in Coffee Packs and Medical Equipment Shipments
Customs seized RM6.64 million worth of drugs hidden in coffee sachets and medical cargo, foiling three major smuggling attempts.
Business News
MHO Urges Crackdown on Loan Shark Syndicates, Not Just ‘Small Fish’
MHO calls on the Home Ministry to target loan shark masterminds, saying victims are often scammed, not true borrowers.
Corruption
‘Your mouth is brave, but your legs will shake’ says Thai deputy PM to Tom Wright
Whale Hunting’s Tom Wright says Thai Deputy PM Thammanat Prompao is threatening to weaponize Interpol’s Red Notice system against journalists.
Cryptocurrency
Kaspersky Uncovers Coinbase Phishing Campaign Exploiting Windows Users
Kaspersky warns of phishing scam targeting Coinbase users with fake account statements on Windows, risking stolen credentials and lost funds.
Cryptocurrency
Malaysian Fixer Admits Money Laundering in UK Cryptocurrency Scam Case
Hok Seng Ling pleads guilty to laundering funds for massive Bitcoin scam, as UK authorities pursue £16.2 million recovery.
Crime
Singapore Florist Left in the Lurch After Vanishing Bulk Order
Small florist duped by fake bulk order, left with unsold bouquets; recoups some losses by discount sales but suffers setback.
Fraud
Tan Sri Abu Sahid Charged with CBT and Money Laundering Involving Over RM450 Million
Tan Sri Abu Sahid Mohamed faces four CBT and 13 money laundering charges involving RM452 million linked to MEX II project.
Banking and Finance
Singaporean Pleads Guilty in US$537,000 AI Trading Scam
Singaporean Ong Kai Min admitted cheating investors in fake AI trading scheme, causing US$537,000 losses; sentencing set for September 19