'Investment Education Platform' Deceives Malaysian Man Out of RM3.34 Million

A 44-year-old Malaysian man fell victim to a stock investment scam, losing nearly RM3.34 million. The scheme used "financial education" as an excuse to lure victims into a fraudulent investment platform.

According to the victim, he saw an investment advertisement on the social media platform Facebook on September 16. Following the ad's instructions, he registered an account on ginkgo-my.com. Believing he was investing in a legitimate stock trading platform, the victim initiated 26 transfers to six bank accounts designated by the fraudsters, totaling RM333,567. He later discovered the purported "profits" displayed in his account were impossible to withdraw.

According to the website's content, the operator identified itself as "Ginkgo Academy (GBS)," an investment education platform allegedly co-founded by Singaporean investment experts. The platform further claimed its "core investment team" would conduct a five-month free investment training course in Malaysia and Singapore from July 1 to December 1, 2025, with enrollment limited to 3,000 participants. Reportedly, the academy's CEO will be responsible for formulating investment strategies and plans.

However, the Monetary Authority of Singapore (MAS) does not record any regulatory information related to "Ginkgo Academy," which indicates the platform lacks legitimate authorization to provide financial investment advice in Singapore.

BrokersView reminds you

Social media platforms like Facebook are flooded with numerous fraudulent investment advertisements. Many advertisers promoting these ads are not authorized by financial regulators, yet falsely claim to offer investment opportunities to investors, even guaranteeing high returns.

Investors should exercise caution when encountering investment services and advice from unconventional channels. Before engaging in any transactions, carefully verify the regulatory status of the trading platform to avoid falling victim to scams.