Stock Exchange Archives

WATCH OUT for scammers pretending to be Jomo Kwame Sundaram offering stock advice on Facebook!

Find out what’s going on, and warn your family and friends!

Jomo Kwame Sundaram Stock Advice Scam Alert!

Scammers are running Facebook advertisements that claim that famed Malaysian economist, Jomo Kwame Sundaram, is created a WhatsApp group offering free stock investment advice!

I am Jomo Kwame Sundaram
A prominent Malaysian economist.
On June 14th, I said in the stock exchange group:
There have been abnormal transactions in the Southeast Asian stock market in the past two days
Indonesian stock market soars on the 15th, with huge volatility
Now the local exchange has access to supervise the stock movement
Next, Malaysia’s stock market will also experience abnormal fluctuations
Please pay attention to: ADVCON, KPSCE, ICON, MBL these stocks
Related stock abnormal information, I will continue to send in the group
If you haven’t joined the stock exchange group
Please join in time, I will share the stock information I have for free
Master stock information and avoid losing money in the stock market

I am Jomo Kwame Sundaram
A prominent Malaysian economist.
This is my one and only page on Facebook
As of May 2023, there will be an outflow of RM2.39 billion from the Malaysian stock market
This is the result of a large amount of foreign funds manipulating the Malaysian stock market
Since the collapse of the three largest U.S. banks in March,
About $76 billion has been withdrawn from U.S. stocks into stock markets around the world
If you do not grasp the stock inside information in time
Investing in the stock market can make you lose money
I created a stock exchange group
Share the insider information about the stock market that I can grasp for free
Hope these stock information can help you

Show less

Recommended : How To Block Facebook Ads + Pay Scammers!

Jomo Kwame Sundaram Stock Advice Scam : What You Need To Know!

These Jomo Kwame Sundaram stock investment scams are being promoted heavily on Facebook in 2023, so please alert your family and friends!

Fact #1 : Jomo Kwame Sundaram Reported These Fake Ads

These fake Jomo Kwame Sundaram stock advice advertisements have been promoted on Facebook for several months now. On April 15, 2023, Jomo himself posted about this scam:

*Warning Letter from Jomo Kwame Sundaram*

I regret to inform you that someone is impersonating me. They have established an official website in my name, with many old photographs and other material to give this impression.

I am presented as an education and investment consultant, neither of which is true. There is even a contact telephone number for my supposed assistant.

I have reported the impersonation to Facebook and MCMC with no indication of any action so far. This happened several years ago as well when there was an earlier effort of this type.

I have never given investment advice, and have no intention whatsoever of doing so. It is highly irresponsible for anyone to claim they know the future. Whatever I do on economic and other matters is free for the public, and I urge you not to pay money to anyone who claims to be advising you in my name.

As I have been giving lectures in Tsinghua University in the past week, when this problem began, I did not realize how quickly the problem was growing and failed to act more promptly.

Please warn your friends and loved ones.

Thank you for your cooperation.

jomo

Unfortunately, as many people have discovered, Meta / Facebook does not appear to care about these fake ads. You can report them till kingdom come, but they will just keep running on Facebook as long as these scammers pay for them!

Fact #2 : Jomo Kwame Sundaram Is A Renown Economist

Jomo Kwame Sundaram is a world-renown economist, who writes extensively on economic policies. However, as he explained above, he is not an investment consultant!

He has better things to do than to offer you free stock investment advice! In May 7, he just published an article called “Inflation phobia, myths and dogma exacerbate policy responses” in the Review of Keynesian Economics.

Fact #3 : One Victim Lost RM480K To Investment Scam!

In November 2022, a 60 year-old housewife from Port Dickson fell for a similar investment scam, and lost almost RM480,000 (about US$104,000).

After being offered the free book on Facebook, she was asked to join a WhatsApp group called Family Discussion, where she was asked to convinced to “invest”.

The WhatsApp group administrator instructed her to download an application called Forza, and open a savings account. She was then asked to deposit money into certain bank accounts, and upload the slips using that Forza app as proof.

The lady withdrew her savings and borrowed from her children and friends to invest RM476,100. However, when she wanted to withdraw the interest paid by the company, her account was blocked. The group administrator told her that she would need to deposit an additional RM427,200 to withdraw the interest.

That was when the lady realised she had been scammed, and lodged a police report.

Please help us FIGHT SCAMMERS by sharing this fact check article out, and please SUPPORT our work!

Please Support My Work!

Support my work through a bank transfer / PayPal / credit card!

Name : Adrian Wong
Bank Transfer : CIMB 7064555917 (Swift Code : CIBBMYKL)
Credit Card / Paypal : https://paypal.me/techarp

Dr. Adrian Wong has been writing about tech and science since 1997, even publishing a book with Prentice Hall called Breaking Through The BIOS Barrier (ISBN 978-0131455368) while in medical school.

He continues to devote countless hours every day writing about tech, medicine and science, in his pursuit of facts in a post-truth world.

Recommended Reading

Go Back To > Fact Check | Money | Tech ARP

Support Tech ARP!

Please support us by visiting our sponsors, participating in the Tech ARP Forums, or donating to our fund. Thank you!

Warning – both Datuk Muhamad Umar Swift and Bursa Malaysia are NOT giving out free stock investment advice or books!

Find out what’s going on, and warn your family and friends!

Bursa Malaysia Stock Investment Scam Alert!

Scammers are running Facebook advertisements that claim that Datuk Muhamad Umar Swift and/or Bursa Malaysia are giving free investment advice, or free books on stock investing!

Hi everyone, I am Datuk Muhamad Umar Swift
The Chief Executive Officer of Bursa Malaysia Bhd.
Since 2023, the Malaysian stock market has been relatively sluggish🤕🤕🤕
This may be because many stock market investors do not understand stock market trading
I have been blindly following the investment, resulting in a lot of losses
I have also received many letters from investors recently:
Ask if I have improved my trading skills?
Here I recommend a few stock books to everyone!
This can effectively improve your trading skills 💖💖💖
I also prepared 2,000 stock books for everyone📖📖📖
Free gift to Malaysian stock market investors, yes, it’s free!
Please add my assistant’s wapp, she will mail you books for free👇👇👇

I am Datuk Muhamad Umar Swift
The Chief Executive Officer of Bursa Malaysia Bhd.
In the past 3 months, I have received many letters from stock market investors
They mainly explained the following issues:
1. Want to learn stock market investment, but don’t know where to start? Including opening an account and understanding stock market information, etc.!
2. Veteran investors have certain technical experience, but cannot grasp real-time information, and often miss the best buying or selling points?
3. For retail investors, if you can’t find a team to keep warm, you will never get the first wave of stock market dividends!
4. Novice stockholders want to sign up to learn stock diagnosis techniques. There are so many analysts in Malaysia. I don’t know what to choose?
5. Many stockholders are locked up after entering the market. Do you know how to get out?
6. The global epidemic is over and the economy is recovering. How will the stock market go in the second half of this year?
The above questions are the feedback from our Malaysian stock market investors.
I will create a Malaysian stock market investor exchange group
Answer questions about the stock market online for free in the next 3 days
If you also encounter the above problems, please join my classroom study 👇👇👇

Show less

Recommended : How To Block Facebook Ads + Pay Scammers!

Bursa Malaysia Investment Scam : What You Need To Know!

These Datuk Muhamad Umar Swift and/or Bursa Malaysia free book / investment group scams are being promoted heavily on Facebook in 2023, so please alert your family and friends!

Fact #1 : Bursa Malaysia Reported These Ads As Fake

Bursa Malaysia is aware of these fake advertisements on Facebook, posting this scam alert on May 17, 2023:

[SCAM ALERT] Don’t be fooled by Facebook ads or pages that offer stock advice. Scammers are known to impersonate Bursa Malaysia representatives to lure you into their fake investment schemes. If you have come across ads or pages like this, be sure to report it to Bursa2U along with a screenshot and source link at bursa2u@bursamalaysia.com or call Bursa Malaysia’s Help Centre at +603-2732 0067. Remember to check the Securities Commission Investor Alert List at http://sc.com.my/investor-alert before investing. Contact the National Scam Response Centre hotline 997 if you have been a victim of scam.

[AMARAN SCAM] Jangan terpedaya dengan iklan atau halaman Facebook yang menawarkan nasihat saham. “Scammer” seringkali menyamar sebagai wakil Bursa Malaysia untuk memujuk anda ke dalam skim pelaburan palsu mereka. Jika anda menjumpai iklan atau halaman seperti ini, pastikan anda melaporkannya kepada Bursa2U berserta tangkapan skrin dan sumber pautan ke bursa2u@bursamalaysia.com atau hubungi Pusat Khidmat Bursa Malaysia di talian +603-2732 0067 . Semak Senarai Amaran Pelabur Suruhanjaya Sekuriti di http://sc.com.my/investor-alert sebelum melabur. Hubungi talian hotline Pusat Respons Scam Kebangsaan 997 jika anda menjadi mangsa penipuan.

#StayAlert #ScamAlert #TakNakScam #JanganKenaScam

Fact #2 : Bursa Malaysia Is Not A Charity

Please do NOT be naive. Bursa Malaysia is not only the stock exchange of Malaysia, it is also a public listed company, whose focus is to make money, not a charity to give you free books or advice!

Datuk Muhamad Umar Swift is not only the CEO of Bursa Malaysia Berhad, he is also the director of its subsidiary companies. He certainly has more important (and profitable) things to do than to create a WhatsApp group to answer YOUR questions or advice YOU on what stocks to buy!

Fact #3 : Bursa Malaysia Does Not Use WhatsApp To Communicate

Bursa Malaysia offers a multitude of contact options by snail mail, online forms on their Bursa2U portal, email or telephone.

What it does not have is a WhatsApp account. So when scammers message you to collect your “free books” using WhatsApp, or ask you to join the Bursa Malaysia WhatsApp group, be warned!

Datuk Muhamad Umar Swift (fake) : I’m sorry because too many people have privately messaged me, please click to add administrator 👇whatsapp👇, send “PM” to join our company’s free communication group! https://wa.me/6019527xxxx

The real Datuk Muhamad Umar Swift, and Bursa Malaysia, will never ask you to join a WhatsApp group for any reason, whether it’s for investment advice, stock tips, or to buy and sell stocks, etc.

Fact #4 : One Victim Lost RM480K To Investment Scam!

In November 2022, a 60 year-old housewife from Port Dickson fell for a similar “free book” scam, and lost almost RM480,000.