Datuk Seri Jessy Lai, founder and chief executive officer of e-commerce company MonSpace Multinational Corporation says investigations into the company will prove its legitimacy.
“We welcome the investigations. I am confident that it will show that we are clean,” she said in a press conference on Friday (July 27) at their Bukit Jalil office.
Lai alleged there had been false reports online – without specifying what they were -which exaggerated the situation and she was considering legal action pending advice from her lawyers.
Speaking about bank accounts that had been frozen by authorities, Lai said 15 out of the 72 bank accounts were directly linked to the business.
Regarding her travel ban, Lai said that she would comply with the instruction.
“Regardless if I’m blocked or not, I have to stay in Malaysia because I need to help my staff during the course of the investigation,” she said.
On July 25, Domestic Trade and Consumer Affairs enforcement director Datuk Roslan Mahayudin said that they had raided multiple MonSpace offices.
The operation, dubbed Ops Coin, saw raids on 16 premises linked to the company for allegedly running an illegal investment or “money game” scheme.
Authorities also froze 72 accounts with funds amounting to about RM5 million.
As for the RM93,879 seized in a raid by officials at her home, Lai said the money belonged to her, and not the company.
“There were four different types of currencies.
“Of the RM90,000 seized, I had Euros, RM300 in ringgit, US$20,000 and 10,000 Renminbi. These were just for my personal use,” she said.
Bank Negara Malaysia (BNM) previously revealed that MonSpace was registered as a Multi-Level Marketing (MLM) business.
MonSpace and Lai first made headlines in 2016 when an airlines group linked to the company was found operating a commercial flight without a valid air service permit. The group was later fined RM380,000 after pleading guilty to the offence.
Last year, 70 Chinese nationals lodged police reports on a “misleading” investment scheme run by MonSpace. DAP MPs at the time had voiced concern over MonSpace and the alleged scheme.
MonSpace is listed in BNM’s Financial Consumer Alert watch list because of these incidents. The list includes websites and companies neither authorised nor approved under relevant laws and regulations.
The current investigation into MonSpace is conducted under Section 27B of the Direct Sales and Anti-Pyramid Scheme 1993 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
Besides the domestic trade and consumer affairs ministry, officials from BNM, the Attorney-General’s Chambers and the Companies Commission of Malaysia are also involved in the investigation.