Malay Indians in Penang bankrupt after involvement in get rich quick schemes
By ANIFriday, June 4, 2010
KUALA LUMPUR - Many Indians in the Malaysian state of Penang have gone bankrupt after investing heavily in get-rich-quick schemes.
The Star quoted Penang businessman K. Povendran as telling a news conference that most of them had been forced to settle debts for the rest of the lives as they had taken loans or borrowed money to join these schemes.
He said that most of the schemes offered high returns at first only to fizzle out later.
He called upon the Indian community to be more careful and not to be fooled by such schemes.
The Malaysia Nanban reported that the Penang government would take action against the sale of illegal samsu in the state, which has created social problems for the Indian community. (ANI)
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