Sunday, Dec 09, 2012
IPOH - Attracted by the high returns, a lecturer forked out more than RM30,000 of his savings to invest in a scheme only to find out later that he had been cheated.
Loo Leong Peng, 56, said he had signed up for the scheme at a counter set up at a hypermarket here in August last year.
"I was promised an Australian cow six months after I signed up, which would have seen my investment grow to nearly RM170,000 after eight years."
The returns were to have come from the sale of milk from the cow from a farm in Kluang, Johor.
"However, in the 11th month, I was informed that my cow had died," he said at a press conference called by Perak MCA Public Services and Complaints Bureau chief Datuk Lee Kon Yin yesterday.
Loo said the company promised to replace his dead cow in the next six months.
"I decided to check on the status of my replacement cow last week, but I couldn't get hold of the company through their contact numbers."
Loo said he had not signed up for the scheme immediately after listening to the company's representative.
"I did my homework first by checking out the company's website, which showed pictures of cows and large fields."
He admitted that he believed what he had seen on the website and returned to the counter the next day to sign up for the scheme.
Looking back, Loo admonished himself for failing to check out the purported farm in Kluang before parting with his money.
He has lodged a report at the Pekan Baru police station here.
Lee urged other victims to come forward and report to the bureau.
"We will assist them to file complaints against the company."
The bureau can be contacted at 05-2536981 or 05-2538455.
