Thousands were caught up in Mudah Trading scams and cheated out of about RM20mil

Recently, Mudah Trading, which has been operating for less than a year, ran away, and thousands of investors were cheated, involving about RM20 million.

In addition to pensioners, businessmen, teachers and students, even police officers have fallen victim to the scam.

According to one victim, Rifqi, he saw an investment platform online that boasted high returns of 14 to 21 percent per month.

"I clicked on the AD that popped up on the app and went to a WhatsApp group where I received a message about the investment," Rifqi said.

He started making small investments in October last year and increased his funds after receiving promised returns.

Although he managed to withdraw thousands of ringgit, however, last month, he was suddenly unable to withdraw the money. But he still lost RM32,000.

Two weeks ago, Rifqi filed a police report.

Investigations by the police and SC Malaysia revealed that the Mudah Trading platform belonged to OID Solution, a company registered as a sole proprietorship in the name of a 34-year-old man in March last year.

But the bank account was registered to a man with a record of drug use and drug-related crimes.

A 33-year-old technician from Sepang town in southern Selangor said he got a personal loan of RM30,000 from a bank to run a business and ease his mother's financial burden.

"My elderly mother runs a food stall and has to work day and night."

"I hope that with the extra money invested, I can go into fish farming and earn a better income for my family."

Initially, the company paid a large dividend, but all of that was withdrawn last month."

"They blocked our phone and couldn't reach us anymore."

He said he wanted to see the crooks punished even if he could not get his money back.