Many deceived by 'Saving Sapiza' kootu fund scheme
Hishamuddin (sitting five from left) with the victims in a press conference about the kootu funds scheme here on Friday - FILE PIC
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The victim, a restaurant owner known as Wati, 39, claimed that she and her three siblings suffered RM70,000 in losses after they realised they were cheated by the individual who managed the kootu funds.
"I have invested RM7,000 in the kootu funds since March last year for my five-year-old son's medical costs, who suffers from physical disability (spina bifida)," she said in a press conference at the Malaysian International Humanitarian Organisation (MHO) here today.
Wati said the victims were promised a return of 10 to 60 per cent from the funds
"This kootu funds apparently provided several packages as well as the return date of capital and profit," she said.
Wati said, apart from a woman who was referred to as 'ibu kutu', (kootu fund mom) there were several other individuals who acted as administrators to help run the kootu fund scheme.
"We felt cheated when we did not receive the money back as promised since November last year," she said.
Meanwhile, MHO Secretary General Datuk Hishamuddin Hashim said most of the kootu scam's victims were from Johor.
"A total of 60 victims came forward and filed a complaint to MHO, where 30 of them had lodged a police report," he said.
Hishamuddin said the victims included ustaz, civil servants, private sector employee and police personnel, with losses ranging from RM10,000 to RM200,000.
"Victims were deceived by the scheme because it offers extra payments, which was at a rate that was never offered by any financial institution and legal investment," he said.
He was made to understand that the organiser of the scheme known as 'ibu kutu' was arrested with her seven agents by Bukit Aman Commercial Crime Investigation Department (JSJK) yesterday for further investigations.
Hishamuddin was worried that the 'ibu kutu' and her agents will be handed over to other relevant agencies, namely the Companies Commission of Malaysia (SSM) to conduct investigations.
"We are concerned that SSM through the National Anti-Financial Crime Centre (NFCC) will only charge them under the prohibition act with a maximum penalty of only RM500,000 or imprisonment," he said.
He said MHO hoped that the individual will be subjected to strict action in accordance to Kootu Fund (Prohibition) Act 1971 (Act 28) and Section 420 of the Penal Code.
"The two acts imposed heavier punishments if they are found guilty," he said.
He called on all victims of the scheme across the country to come forward and lodge a police report.
"Many victims are afraid to lodge a report because they are threatened by the agents saying that their money will be lost if they lodge a police report.
"We hope the individuals will be subjected to strict action in accordance to Kootu Fund (Prohibition) Act 1971 (Act 28) and Section 420 of the Penal Code," he stressed.
The Malaysian Community Crime Concern Organisation (MCCC) president Tan Sri Musa Hassan said close cooperation between all agencies neededto be established so that authorities can swiftly carry out their duties to combat fraud schemes.
"The authorities need to act decisively and quickly as the victims also want those involved in the fraud scheme to receive severe punishment," he said.
