“They flaunt wealth but are in debt” – Insolvency Dept Reveals 50 M’sian Celebrities, Including a Datuk, are Bankrupt

Previously, we shared the latest statistics from the Malaysia Department of Insolvency (MdI), which revealed that a whopping 31,387 individuals in our country have been declared bankrupt since 2020, a majority of which (49.11%) were due to personal loans.

Now, MdI director-general Datuk M Bakri Abd Majid revealed that among those who are insolvent are around 50 Malaysian celebrities, including a famous singer with a ‘Datuk’ title. 

Around 50 Malaysian celebrities have been declared bankrupt, including a Datuk

M bakri abd majid

Bakri was quoted by Berita Harian as saying that some of these bankrupt ‘rich celebrities’ are refusing to cooperate with his department in paying the monthly amount set by the department for their insolvency cases.

He added that these celebrities refused to cooperate despite bankruptcy notices issued against them, resulting in MdI being unable to help them escape their legal insolvent status.

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Bakri further revealed that among them are celebrities who flaunt wealth on social media but fail to make the monthly payments as set by MdI, despite the amount being small and per their financial capabilities.

The MdI director-general shared,

“There are celebrities who should’ve already been released from their bankruptcy status, for example, cases that are over 5 years old, but due to their refusal to cooperate or even meet with MdI officers to discuss their cases, they remain insolvent.”

The report added that among the Malaysian celebrities with bankrupt status are two popular rock singers, a businessman, a corporate figure and several politicians.

Source: shutterstock

So, what do you guys think of the MdI director-general’s revelation? Share your thoughts with us in the comments.

Also read: Over 15k M’sians Went Bankrupt Due to Personal Loans Since 2020, 72.88% of All Bankrupt Individuals are Men