(BERNAMA) : TUMPAT, Aug 26 - Eleven investors in a worm rearing project have lodged a police report claiming losses of RM200,000 after the company failed to make monthly payments and dividends.
Mohd Fadil Mustafa, 29, and ten investors lodged the report at Wakaf Bharu police station today claiming that they had been cheated by a worm rearing company in Kadok, Kota Baru. He said they agreed to invest in the worm rearing project last year after the parties involved agreed that monthly dividends would be paid. "According to the agreement, the entrepreneur will return 70 per cent of the total investments after one month," he told reporters here today.
Mohd Fadil also said that based on the agreement, the entrepreneur promised to give second parties 12-16 per cent profit on investments monthly, for 12 months.
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