Fraud Scheme Uncovered Involving GCG Asia Forex Scam and Mining Company
1 report, 1 independent
Updated Sep 25
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What happened
A financial fraud scheme has been uncovered involving GCG Asia Forex Scam and The One Minerals Mining Sdn Bhd. The allegations center on a purported bauxite megaproject in Johor that company filings suggest never existed. Looi Kam Yong is identified as a central figure in the investigation, which also involves a RM127 million seizure made in 2022.
From socialnewsdaily.com
Why it matters
The investigation focuses on allegations that Looi Kam Yong defrauded shareholders regarding a non-existent project. Authorities are examining a RM 150 million funnel of money into a company lacking bauxite project approval.
From socialnewsdaily.com