Berjaya Corp Bhd founder Tan Sri Vincent Tan has lodged a report with the police and the Malaysian Communications and Multimedia Commission over an online scam using his name and image.
The tycoon has denied any involvement in or endorsement of an investment that purportedly turns anyone into a millionaire within three to four months, calling it a scam.
He also said he was determined to sue and seek compensation from any social media operators whose sites published any investment scams that use his name.
A screenshot of the investment scam posted on Instagram by user “Sinar Harian News” claimed that Tan could turn anyone into a millionaire within months.
“I urge the public to be extremely careful not to be victims of any investment scams, especially since many people have lost their jobs and savings recently due to the Covid-19 pandemic,” he said in a statement Thursday (May 28).
“It has become too rampant that internet and social media platforms are used by criminals to prey on innocent investors,” said Tan, adding that scammers and fraudsters often misuse prominent personalities such as political leaders, celebrities and billionaires to dupe potential investors.
He added that it was shocking how easy it was for criminals to propagate their scams on these popular social media platforms.
He also urged prominent social media operators to be more committed in protecting millions of social media users and to undertake more serious measures to prevent their sites from becoming a safe haven for investment scams.
This is not the first time that Tan’s name and image have been used for investment scams on social media.
Previously, he has had to deny an online report claiming that he had invested US$250 million (RM1 billion) in a get-rich-quick scheme. – The Star