Let's Analyse!
Part 3 - 8-FOLD King - Illegal Deposit Taking & Excuses to Refund
转帖 - forwarded post
This is the third article on the series of The Truth About 8-FOLD King.
Recently there is a very HIT post in Chinese investment forum (link below):
It has since recorded a total 22.2k views and 4.7k replies in short time!
(the link above is now open to public reading without any restriction)
In addition to what you have read in Part 2 (showing high % return but cover up huge loss behind), he has also undertaken illegal deposit taking (IDT) activities.
He even suffered 6-digit realized and unrealized loss in VS during 2016 Feb.
(detail info in the link below)
He once claimed that it's no a big deal even if he lost all IDT monies in his speech to the public.
IDT money owners felt 'fishy' and thus some of them demanded refund of capital.
(Below is the corresponces between Mack Chong and various IDT money owners)
pic 1：He claimed that he was facing 4 refunds at the same time
pic 2:he claim he will ask others to fill in(if he gain in investment as he claim,why does he need to find other to fill in)
and if he find other to fill in,why he will earn less 700k?
pic 3:he claim to transfer money after selling his share
pic 4:when facing demand and inquiry,he just opt to ignore after reading
pic 5:transfer money also need to suit his chinese calender
pic 6:this owner get his far well love letter from mack chong,no more question to be asked,each question at rm 2k
pic 7: He said that reputation is vital to a lecturer and for IDM, but the problem now is 18 days has past with no response from him at all. He is just slapping his own face. What he did was just to block and kick people from his FB study group.
1, illegal deposit taking，solid proof,voliating banking and financial act 1989(BAFIA)
2, when facing capital withdrawal request,he drag as long as he can,if not he try to see lunar calender
Link to Part 1 (chinese) : http://klse.i3investor.com/blogs/bukithot/114400.jsp
Link to Part 1 (english) : http://klse.i3investor.com/blogs/bukithot/114384.jsp
Link to part 2 (chinese): http://klse.i3investor.com/blogs/bukithot/114381.jsp
Link to part 2 (english) : http://klse.i3investor.com/blogs/bukithot/114512.jsp
Link to part 3 (chinese) :http://klse.i3investor.com/blogs/bukithot/114513.jsp
Link to part 3 (english) : http://klse.i3investor.com/blogs/bukithot/114597.jsp
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Be the first to like this. Showing 4 of 4 comments
just curious, tak ada orang buat report polis ke? or go tv ask mca michael chong to help.
2017-01-24 22:27
Part 4 - 八番王的真面目: 几十万的亏损 http://klse.i3investor.com/blogs/bukithot/114602.jsp
2017-01-24 23:01
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Link to Part 1 (chinese) : http://klse.i3investor.com/blogs/bukithot/114400.jsp
Link to Part 1 (english) : http://klse.i3investor.com/blogs/bukithot/114384.jsp
Link to part 2 (chinese): http://klse.i3investor.com/blogs/bukithot/114381.jsp
Link to part 2 (english) : http://klse.i3investor.com/blogs/bukithot/114512.jsp
Link to part 3 (chinese) :http://klse.i3investor.com/blogs/bukithot/114513.jsp
Link to part 3 (english) : http://klse.i3investor.com/blogs/bukithot/114597.jsp
2017-01-24 22:24