Monspace Ponzi scammers arrested and charged in Malaysia
Admins of the Monspace Ponzi scheme have been arrested in Malaysia.
CEO Lai Chai Shuang (Jessy Lai), Wong Tat Foong and Chai Ling Mooi plead not guilty to charges relating to fraud.
Specific charges include violations of Malaysia’s Direct Sales and Anti-Pyramid Scheme Acts.
Jessy Lai (right) is facing two charges.
As Director of Monspace, Lai is facing a RM500,000 to RM5 million fine ($120,462 to $1.2 million USD), or five years in prison for promoting a pyramid scheme.
The second count relates to not having an MLM license and carries a separate RM200,000 fine ($48,185 USD), or again up to five years in prison.
Lai’s co-conspirators are each facing only the second count.
Bail was set at RM400,000 for Lai ($96,370 USD), RM20,000 for Wong ($4818 USD) and RM200,000 for Chai ($48,185 USD). The trio’s passports were also confiscated.
BehindMLM reviewed Monspace in June 2017 and, based on its business model, concluded it was a Ponzi/pyramid hybrid.
Up until September 2017, Monspace investors were still claiming the scheme was legitimate.
The next hearing in the Monspace case is scheduled for June 14th. Stay tuned…
Now if we could just get Malaysian authorities to crack down on MLM forex fraud plaguing the country…
Is moonspace still active? Seems like troubles is coming their way! They have a huge Malay group’s following jessy! Poor! Charged
Next scam to look into is definitely GCG ASIA by the self claimed Darren Guy! Poor puppet.
Monspace has a website up but the business seems to have died in the ass mid last year.
Round the time authorities managed to seize millions in assets.
We’ve reviewed GCG Asia. Search bar is on the top right of every page.
Now she set up another mlm ponzi with 4 other Malaysians thats running away from the company they just did and failed.
Her new company is called SCA – Soul Cloud AI. Look into this before they scam millions of people again.
Soul Cloud AI looks like your typical crypto shitcoin Ponzi with an AI grift, but I’m not seeing anything MLM related?
Better check on their company as they are recruiting and start scamming people again, so far they are now in Dubai, China, Thailand some Asian country.
please warn people on Soul Cloud AI as it has nothing, just promises again by Jessie Lai and his new partners.
See #5 above.
Someone sent me a link to a Soul Cloud AI webinar but it required a Weibo login. I’m guessing the event was also probably in Chinese.
Till there’s something English I can go on to verify MLM, BehindMLM can’t track Soul Cloud AI.