Directors jailed over cafe scam

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Reference to the Newspaper dated 13 Aug 2011, Island Red Cafe Franchise Sdn Bhd executive director, Teow Wooi Huat and his son, Teow Chee Chow, also a director of the company, were charged in court with fraudulently inducing 93 people to invest RM1,040,400.

They have been sentenced by Sessions Court to a day jail and fined a total of RM160,000 after they admitted to two counts of cheating and misleading investors of over RM1mil in an Island Red Cafe programme.

They also pleaded guilty before a judge to offering shares of the company to the public through the programme although at that time, it was not involved in buying and selling shares.

For the first offence, Teow and Chee Chow were each sentenced to a day in prison and fined RM20,000 in default of 20 months jail. They were sentenced to a day in prison and fined RM70,000 and RM50,000 respectively, in default of 30 months jail, for the second offence.

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Authored by kevinn on 13th August 2011

Nice to hear

Life, People No Comments »


   There is a TRUE saying , "there goes again, somebody got cheated again". People have been cheated over and over again years ago and for years to come. 

    Beware of any marketing plan that requires you to pay a few thousands of dollars ONCE in your lifetime.  They say you DON'T have to find or recruit anybody and you get paid monthly forever, or sometimes they make it sound realistic, for a certain number of years.

It is nice to hear, soothing to the ears, but these kind of money making investment, with so high returns will never last.

People like to hear good things, so say what they want to hear, rather than telling them the truth.

Those companies that users these plans never last 3 years.

Choose other plans, there are many in the market.

I m sure many out there have been cheated with these sweet and nice words.  

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