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13 July 2014

Malaysia Govt urged to take immediate action against MLM company .

Posted by Admin  |  at  8:56 AM

PUTRAJAYA: MCA wants the government to take immediate action against a multi level marketing (MLM) company owned by ‘millionaire’ Zhang Jian to avoid more Malaysians becoming victims of the get-rich-quick scheme.

Its vice president Datuk Dr Wee Ka Siong said Bank Negara, Domestic Trade, Cooperative and Consumerism Ministry (KPDNKK) and Immigrations Department needed to join hands to conduct investigations and take action against such MLM companies.
“Malaysians must be careful with business plans that only promise profits.
There is no such thing as a business plan that can sustain where nobody suffer losses… no money game can happen that way,” he told a media conference here yesterday.
Wee, who is also Minister in the Prime Minister’s Department, advised the people not to be greedy and easily deceived by the get-rich-quick scheme.
Yesterday, KPDNKK raided the headquarters of the CDTUP International Sdn Bhd, which is known as YSLM, in Setiawalk, Puchong near here and its office in George Town.
YSLM is founded by Chinese national Zhang Jian, who claimed to be the future richest man in the world with his business empire, Yun Shu Mao.
The company’s business activities are reported to be inclined to get-rich-quick scheme which requires a scheme participant only to invest RM300 that guarantees an income and luxury car.
Previously KPDNKK secretary-general Datuk Seri Alias Ahad had said the company was found to have not been registered under the Direct Sales And Anti-Pyramid Scheme Act 1993. — Bernama

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Mayank Singh Rajawat

"Editor in Chief" of TimesofHindi.com , MLMNewspaper.com . if you want to publish your Article FREE just Email Us : Editor@MLMnewspaper.com or Contact us 07566688843 ...

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