The schemes are allegedly offering investors between 10-30% in monthly returns, The Star Online reported.
The companies listed on Bank Negara’s website are Ahmad Zulkhairi Associates PLT, Ethtrade Limited, Ethtrade Malaysia, Kilauan Padu Services Sdn Bhd, O2 Only One, OG1 Asean, Only One International Sdn Bhd, Proficiency Management and Services, Smart Trade Entrepreneur, Smart Trade Resources Sdn Bhd, TF International Group, TF International Group (MY), TF International W1212 KL Team and ZEMC Sdn Bhd.
The 14 additional companies are part of 316 others.
According to the report, O2 Only One, believed to be operating in Sungai Petani, Kedah, offers a monthly return of 13% and a commission of between 3-5% for investments by down-lines.
Meanwhile, Bukit Mertajam-based TF International promises investors a 24% return for their investments.
OG1 Asean is a mobile phone application developed by Kilauan Padu Services that allegedly allows users to save up to 61% on mobile prepaid reloads and household bill payments. It also offers between a 100-130% profit for investments of between RM500 and RM20,000.
Under the Financial Services Act, individuals or businesses involved in illegal financial activities can be fined up to RM50 million and jailed 10 years.
The media in recent weeks has been abuzz with news of one money game company after another going bust, resulting in millions in losses for their investors.
Among the first were the JJPTR investment scheme, that left investors in a quandary after the company’s founder Johnson Lee, 28, claimed its funds were siphoned off by “hackers”, resulting in losses of over US$50 million (RM217 million).
Soon after, scores of investors from China were left hopping mad after a Malaysia-based investment scheme they involved themselves in tanked, leaving them in debt. The company was called Richway Global Venture.
In May, a group of 19 Chinese nationals arrived in Malaysia over the weekend to seek help after being allegedly misled into placing their money in an investment scheme by MonSpace (M) Sdn Bhd.
Just this month, yet another Penang-based forex scheme sent investors into a panic after the company purportedly began a downward spiral when the pound took a plunge following the British election results.