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news Scmp World 2026-04-23

Alleged Malaysian Scammer Vanishes with $25 Billion Investment Fraud

Victims worldwide lost significant savings after an alleged Malaysian scammer vanished with funds from a massive investment scheme. The fraud swindled participants of nearly 100 billion ringgit (US$25 billion).


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 ยญvictims across the globe of close to 100 billion ringgit (US$25....

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