'World's richest man' offers refunds to MLM investors

'World's richest man' offers refunds to MLM investors
Internal matter: Lai (seated, left) and the company's charity wing chairman Datuk John Lee Kim Tian (seated, right) having a discussion with workers prior to the press conference at their office in Kuala Lumpur.

KUALA LUMPUR - Members of a controversial multi-level marketing business started by self-proclaimed Chinese millionaire Zhang Jian are entitled to a refund if they quit the scheme, said senior distributor Jessy Lai.

"They have until Aug 14 to cancel the membership," she said.

"Just bring your identity card, let us take your picture and a video clip stating the reasons you wish to quit, and we will give you the refund on the spot," Lai told a press conference yesterday.

However, she said the refund would only be given to those who had not introduced any new member to the group.

Zhang made the news recently when billboards of him appeared in Penang, proclaiming himself as the "future richest man in the world".

Subsequently, reports emerged accusing his company, known as YSLM, of being linked to a get-rich-quick scam.

YSLM has refuted all the allegations, stressing that it was a legal business.

Yesterday, Lai also refuted media reports that at least 100 people had turned up at the company's office here to cancel their membership since news about the refund offer was circulated on the Internet before the official announcement.

"We have not received any applications as of now," she said.

She stressed that the refund process could only be done at the office.

On the whereabouts of YSLM founder, Lai said he had been travelling in and out of the country, exploring overseas markets.

Asked whether Zhang would show up to explain his business, Lai said he would appear for official matters and not just to answer accusations against him.

She also explained why the refund would not be offered to those who had introduced other people to the scheme.

Those who had brought in two members would have received a commission of RM300 - equivalent to the membership fee.

Thus, no money would be returned to them, she said.

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