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M’sian Persuaded by Influencer to Invest RM480k into a Bar Which Closed Down After 2 Months


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Source: China Press

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It’s always good to invest your money into something that is guaranteed to make returns or something that you’re extremely passionate in.

However, sometimes, a little bit of caution must be exercised to make sure that whatever you are investing your money into is something that is legitimate and real.

Recently, a local businessman was horrified to find out that he had lost RM480,000 after he’d taken a huge risk in trusting an internet celebrity.

According to China Press, the businessman named Wang had agreed to jointly open a bar with the internet celebrity. Unfortunately, the bar closed after just 2 months and their business partner fled the country to start a casino in Vietnam.

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The 51-year-old businessman who is supposedly in the printing business said that he met a live-streamer, surnamed Huang, through a friend last November. He found the streamer to be a straightforward and talented person and ended up trusting the streamer.

A short while after their first meeting, the internet celebrity asked Wang if he wanted to jointly invest in opening a bar. Wang listened to his proposal and investment plan and decided it was feasible and ended up investing RM480,000 into the bar.

However, things did not go to plan.

“From January to March this year, I remitted money to (Huang) five times. But the 32% of the shares we agreed to were not received, and the business accounts could not be (updated).”

The bar, which had only been operating for two months, then suddenly closed without warning.

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Wang stated that the sudden closure had come as a surprise and he was quick to suspect that the money he had invested had depleted.

Upon checking Huang’s socials, he discovered that the internet celebrity had gone to Vietnam and even opened a casino there.

“Because of the decline in business in recent years, the printing company I used to work in wanted to (expand) in other business sectors and make a little more money. But, I didn’t expect it to be like this.”

He also shared that he had mistakenly signed a contract with Huang and sent the money to him before Huang had signed.



Wang had already reported the case to the police back in July. However, he hopes to alert others of the fraud and pressure the influencer into returning his money.

“I don’t want the money I made from the investment. I just want to get the original amount back,” he concluded.



Also read: Elderly Johor Man Scammed Out Of RM1.8mil By An Alleged Brazilian Doctor In The UK

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Source: China Press
Source: China Press
Source: China Press

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

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