26 September 2007
Company directors Bryan John Marsden from England and his Malaysian wife Phan Sew Ken have been charged by Bank Negara with operating an online investment scam and collecting deposits without a licence. The companies that they have set up, namely PicPay Dot Com and New Mark Business Centre, were estimated to be collecting more than RM200 million in just over a year.
59-year-old Marsden and 55-year-old Phan Sew Ken are believed to have duped victims from the United States, Australia, Britain and about twenty locals. The locals are believed to have invested RM650,000.
Marsden was charged with four counts of taking deposits without a licence while his wife was charged with two such counts. They allegedly collected the deposits while being directors of the two companies, at PT 7323 Second floor, Jalan BBN1/2E, Bandar Baru Nilai, Seremban, between 10 April 2004 and 4 July 4 2005.
Under the Banking and Financial Institutions Act 1989, they face a maximum fine of RM10 million or 10 years’ jail, or both, for each charge if convicted.
Marsden was a former project manager of the Kuala Lumpur International Airport and Kuala Lumpur City Centre project
Marsden and Phan are held at the Seremban and Kajang prisons respectively after they had failed to post bail of RM900,000 each for 51 and 46 counts of money laundering respectively last August.
Bail was fixed at RM400,000 with one surety for Marsden, and RM300,000 with one surety for Phan. The judge also ordered for their passports to be surrendered and fixed three days beginning 6 May 2008 for hearing.
New Straits Times – 2 charged with RM200m Net scam