(Kuching, 23rd) Padungan assemblyman Chong Chieng Jen states that the first batch of victims involved in the Bank Simpanan Nasional (BSN) investment scam have begun to receive full refunds.
In a statement issued yesterday, Chong revealed that one of the victims, Dr. Alex, and his wife have each received a full refund of RM200,000 from BSN, and Dr. Alex’s sister also received a refund of RM300,000 last week.
“Today, Dr. Alex and his wife personally came to my office to express their thanks and appreciation for my help in securing the refund,” he said, adding that the pair also brought a Christmas cake ahead of the upcoming holiday to show their gratitude.
Chong welcomed BSN’s accelerated refund process, noting that the case involves many victims, and each case is unique.
“Because there are many victims and each case has a different factual background, refunds will be processed in phases,” he explained.
He assured that he will continue to work to secure justice for all affected, especially for victims who have lodged complaints through his service center.
This batch of refunds was issued during the authorities’ investigation into a suspected investment scam involving a BSN staff member. Previously, at least 73 victims had lodged police reports, with total losses exceeding RM11 million.
The case first came to light on November 28, when Dr. Alex and his wife sought help from Chong Chieng Jen and Kong Pheng Nian, saying that their life savings of about RM400,000 had disappeared after withdrawing funds from a unit trust management company and reinvesting them into a financial product recommended by a bank employee.
They stated that the funds were handed over in cash directly in the bank branch, and that the victims themselves never actually interacted with the funds.
Their suspicions arose only after they learned that the involved bank staff member had been suspended over issues related to the same product.
They immediately inquired with the bank, only to be told that there were no relevant accounts under their names and that no such funds had ever been deposited.
On December 4, it was reported that 11 victims had filed similar scam complaints, involving a person claiming to be a BSN employee, with an estimated RM1.6 million embezzled and scammed.
On November 29, BSN promised to take full responsibility for the actions of its staff and to return funds once investigations were completed.
Then, on December 1, BSN clarified further that all genuine financial product investments promoted by BSN could only be made through debit and bank transfers and that cash transactions were not permitted.
Currently, BSN has set up a special team at its main branch on Jalan Satok, Kuching, dedicated to handling scam-related complaints.
In a statement issued yesterday, Chong revealed that one of the victims, Dr. Alex, and his wife have each received a full refund of RM200,000 from BSN, and Dr. Alex’s sister also received a refund of RM300,000 last week.
“Today, Dr. Alex and his wife personally came to my office to express their thanks and appreciation for my help in securing the refund,” he said, adding that the pair also brought a Christmas cake ahead of the upcoming holiday to show their gratitude.
“Because there are many victims and each case has a different factual background, refunds will be processed in phases,” he explained.
He assured that he will continue to work to secure justice for all affected, especially for victims who have lodged complaints through his service center.
This batch of refunds was issued during the authorities’ investigation into a suspected investment scam involving a BSN staff member. Previously, at least 73 victims had lodged police reports, with total losses exceeding RM11 million.
The case first came to light on November 28, when Dr. Alex and his wife sought help from Chong Chieng Jen and Kong Pheng Nian, saying that their life savings of about RM400,000 had disappeared after withdrawing funds from a unit trust management company and reinvesting them into a financial product recommended by a bank employee.
They stated that the funds were handed over in cash directly in the bank branch, and that the victims themselves never actually interacted with the funds.
Their suspicions arose only after they learned that the involved bank staff member had been suspended over issues related to the same product.
They immediately inquired with the bank, only to be told that there were no relevant accounts under their names and that no such funds had ever been deposited.
On December 4, it was reported that 11 victims had filed similar scam complaints, involving a person claiming to be a BSN employee, with an estimated RM1.6 million embezzled and scammed.
On November 29, BSN promised to take full responsibility for the actions of its staff and to return funds once investigations were completed.
Then, on December 1, BSN clarified further that all genuine financial product investments promoted by BSN could only be made through debit and bank transfers and that cash transactions were not permitted.
Currently, BSN has set up a special team at its main branch on Jalan Satok, Kuching, dedicated to handling scam-related complaints.