May 21, 2016
The Companies Commission of Malaysia (SSM) recently cracked down on a money laundering scheme operated by a few companies in Kuala Lumpur. The scheme, based on investments in solar projects and solar bonds that are offered in the United States, were used by the companies to find investors with a promise of high returns.
“However, our investigations revealed that these investments offered are suspicious,” said SSM in a statement yesterday.
The companies in question were raided with the help of Bank Negara, Securities Commission Malaysia, police and a few other relevant agencies.