Johor’s Iskandar Investment denies link with scam soliciting funds for individual investments

A screenshot of the alleged scam, using the Iskandar Investment Berhad’s (IIB) logo and name, to solicit individual funds via Facebook. — Picture courtesy of Iskandar Investment Berhad (IIB)
A screenshot of the alleged scam, using the Iskandar Investment Berhad’s (IIB) logo and name, to solicit individual funds via Facebook. — Picture courtesy of Iskandar Investment Berhad (IIB)

JOHOR BARU, Nov 12 — Strategic investment holding company Iskandar Investment Berhad (IIB) today denied that it is involved in soliciting funds from the public for investment purposes, in light of a recent scam involving the company’s name.

An IIB spokesman said that the company denies being linked to individuals or syndicates that have been soliciting individual investment funds on social media using the company’s name.

He said as a government-linked strategic investment company in Iskandar Puteri, Johor, IIB or any of its subsidiaries have never been involved in any activities to solicit investment funds directly from the public.

“We urge the public to be vigilant so as not to fall victim to any scams,” said the spokesman.

Earlier, IIB had posted a statement cautioning the public that there is an investment fraud syndicate by certain parties that use the company’s name on social media.

Checks by Malay Mail revealed that the alleged fraudulent Facebook account is called Syarikat Iskandar Pelaburan.

At present, two individuals have contacted the company to invest in a fake tiered-investment scheme where money has been transferred to unknown accounts.

It is believed the Facebook page has been created on October 11 and has a contact via Facebook Messenger app that will later contact the victim via mobile text messaging app WhatsApp.

A police report has been lodged by IIB’s management after they came across the alleged social media scam earlier this week.

The spokesman assured the public that IIB will be working with the police and related authorities on the matter.

He urged the public to be aware of possible fraud activities and scams on social media using the company’s name and logo.

The spokesman said any enquiries can be channelled to: 07-535 3000 or email [email protected].

IIB, formerly known as South Johor Investment Corporation Berhad, was formed in 2006. The company was formed to drive the development of catalyst projects in the then developing southern economic gateway in Johor.

As a company wholly owned by the federal and state government investment agencies, IIB leads the implementation of various strategic and catalyst projects in Iskandar Malaysia.

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