The Kuala Lumpur High Court has found businessman Goh Hwan Hua and the four companies he controls liable for fraud, and ordered them to return RM8 million in funds to investors.
It was previously reported that 15 people had sued Goh and the four companies he controls – i-Serve Online Mall, Bright Moon Venture PLT, Trillion Cove Holdings Bhd, and QA Smart Partnership PL – for a return of RM8 million of their total investment.
In the suit filed on July 21, 2023, the 15 plaintiffs claimed that at all material times, the four companies were prompt and consistent in their monthly payments of returns.
However, they failed to make the monthly payments agreed upon from November 2021 to June 2022 despite being sent letters of demand by the plaintiffs’ solicitors.
This morning, lawyer Sachpreetraj Singh Sohanpal told FMT that High Court judge, Justice Leong Wai Hong, in his decision, lifted the corporate veil to find Goh liable for fraud.
He also said that Goh was the mastermind.
Apart from Sachpreetraj, the plaintiffs were also represented by Rajesh Nagarajan and Amanda Sonia Matthews.
Goh was represented by Tina Ann Francis.
Sachpreetraj said the High Court’s decision today was met with joy by their clients, many of whom had been going through a tough time as a result of Goh’s fraudulent scheme.
“We welcome the judge’s decision and hope this will allow the investors to recover their money.”
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