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MP: Ministrys mistake caused 7,000 investors to lose RM100mil

Negligence on the part of the Domestic Trade and Consumer Affairs Ministry has caused some 7,000 people to lose more than RM100 million in investments made in a get-rich-quick scheme, charged an opposition member of Parliament today.

Speaking to reporters outside the Dewan Rakyat, Tan Kok Wai (DAP-Cheras) said this in response to the ministry's admission to the House that it had been careless in allowing an unlicensed direct selling company to advertise in the ministry's bulletin.

"Since the advertisement was published in a ministry's publication, it will inspire confidence in the company," he said, pointing out that the publication was even called the Consumer protection bulletin .

The company, Astromax Sdn Bhd, which is engaged in a get-rich-quick scheme, had a full-page advertisement in the June 2001 issue of the bulletin, on page seven.


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