TODAY -
Manipuris fall victim to Malaysian company scam
Nagaland Post | Kuala Lumpur, Sept 5 (Agencies)
Over 70,000 investors, mostly farmers and petty traders from the India’s north-eastern state of Manipur, have fallen victim to the multi-million ringgit pyramid scam in Malaysia.
The nature of business of the four-year-old Selangor-based private limited company has been described as “general trading and investment”, The Star reports.
“Most of the investors are poor people while some politicians and bureaucrats have also invested in the schemes. People sold their properties, land and invested their savings,” Brojen Sinam, president of United Investors Trust, a body set up to address victims’ grievances, said.
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* This Post is uploaded on September 07, 2011.
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