KUALA LUMPUR – Founder of embattled carrier MYAirline Datuk Allan Goh has been slapped with another suit filed by 213 individuals who had invested more than RM70 million into several of his companies.
The suit, filed by one P. Ratnavali Devi S.P. Mudaliar at the Shah Alam High Court on June 25, claimed the investors were defrauded into investing in schemes created by Goh, who used his web of corporate entities to collect deposits.
Ratnavali had filed the suit via Messrs Jerald Gomez & Associates as one of the affected investors.
“The scheme was structured such that while some investors who exited early recouped their deposits, others, like the ones represented by the plaintiffs, wound up with worthless paper debts.
“A handful of these participants filed suits, all of which are still caught up in the court system.
“However, numerous other investors continue to trust and believe in Goh’s guarantee and assurance that they will get their money back.
“Although Goh and his corporate entities have been investigated by the authorities, he remains defiant in refusing to pay the plaintiff, necessitating this suit,” she had said in her statement of claim.
Ratnavali named 20 defendants in the suit, including Goh, and his wife Neow Ean Lee, as well as i-Serve Technology and Vacation Sdn Bhd, i-Serve Travels & Tours Sdn Bhd, i-Serve Online Mall Sdn Bhd (Isom), MM 2217 PLT, Bright Moon Venture PLT (BMV), QA Smart Partnership (QAS) PLT, Global Wealth Elite PLT, QA Elite Partnership PLT, QA Premium Partnership PLT and Alpha International Venture PLT.
While the QA Advance Partnership PLT, Win Capital Holdings Sdn Bhd, Global Prosperous PLT, Win Capital I PLT, New Visionproven Berhad, Advanced Digital Venture Berhad, Trillion Cove Holdings Berhad (TCH) and MYAirline Sdn Bhd were listed as the 13-20th defendants.
On October 12 last year, MYAirline made a sudden announcement that it had suspended its operations effective on that day, citing financial pressure as the reason.
She claimed that Goh had owned and controlled all the companies listed, while his wife was the major shareholder of the 18 defendants.
Ratnavali said Goh invited investors to deposit their money into i-Serve Group of Companies at a promotional seminar, where he and his agents assured them that the money would be repaid in full, and with interest.
The plaintiff, said in her statement of claim, that she too, was a sub-agent of Goh.
“When some investors queried and were unsure whether their deposits were guaranteed, the first defendant (Goh) assured them by preparing a deed of guarantee, personally signed by him, which unconditionally guarantees that the investors would get their money back.
“(However), these investors were induced by fraudulent misrepresentations such as financial audited documents to get them to sign the papers, as well as guarantees of return of capital, so that they had nothing to worry about and that they were protected.
“Goh also said, in documents, that should investors want their monies returned, he would ensure the withdrawals be processed and either a cheque will be issued or the money will be banked into their accounts, as it is not difficult to withdraw the deposits.”
Goh had also fraudulently convinced the investors that everything he is doing through his various companies is legal and he has complied with all the requirements of the law, Ratnavali claimed.
Even after the Bank Negara Malaysia (BNM) raided Goh and his business in 2021, Ratnavali said the defendant still assured the investors that their monies were intact and that they would need to sign a new agreement as a “corporate exercise”.
Despite that, Ratnavali claimed not many investors recouped their investments, causing them to suffer loss and damages.
Previously, Goh and his four companies – namely Isom, TCH, Bright Moo Venture PLT (BMV) and QA Smart (QAS) Partnership – were sued by 15 investors over failure to pay monthly redemption value sums and financing returns from the investors’ outlay amounting to RM8 million.
The plaintiffs, who filed the suit on July 21, 2022, claimed that the five defendants failed to make the payment between November 2021 to June 2022, despite having been served with a letter of demand on June 20, 2022.
They claimed that Isom, TCH, BMV and QAS all collectively function as a single economic unit and that Goh is the single controller of all the other defendants, as he is the Isom shareholder and chief operating officer and director of TCH. – June 27, 2024