On Tuesday (Sept 1), a company involved in pyramid model investment was sentenced to a fine of RM9 million by the Sessions Court for carrying out direct selling activities without a licence, promoting a pyramid scheme and money laundering.

We would like to laud the Domestic Trade and Consumer Affairs Ministry’s enforcement team for taking action on Mon Space (M) Sdn Bhd dan Monspacemall Sdn Bhd, and bringing down the pyramid scheme and money laundering activities.

However, we feel that a sentence without incarceration may not fully serve the interest of justice, as hundreds of thousands have fallen victims to similar investment scams.

Locals and foreign investors alike have lost substantial personal savings from the scams, and this has resulted in Malaysia gaining a notorious reputation over the years as an international hub of pyramid investment games.

Given the severe implications to society, not only should the company be penalised but its directors and shadow directors as well. After all, they are complicit in operating these schemes and should face the full force of the law for their actions.

A jail sentence would definitely act as a stronger deterrent to other pyramid scheme operators and money launderers.

As such, we would like to urge the AG Chambers to consider appealing for a stiffer penalty and to pursue further the prosecution of the directors and shallow directors of such companies.