A youth who used to be a millionaire at 19 as a middleman in an online mobile phone business, is now bankrupt and even owes loan sharks money after his business failed, reported Harian Metro.
Known only as Azmir, the now 21-year-old claimed he fell into debt after failing to deliver 8,000 units of pre-booked phones to his customers after he was duped by the founder of the business.
Azmir, who used to earn an annual income of RM5.5 million (S$1.8 million) by pre-booking mobile phones for customers, said he managed to sell 800 units in a year and received monthly sales bonus from the founder.
"After a few months, my customers' orders went up to 8,000 units, but the phones were not delivered by the founder," adding that the founder later disappeared.
Azmir said the transactions reached RM1 million.
When the buyers started asking about their phones, Azmir had to sell three luxury cars and used his life savings of RM500,000 to refund as many customers as he could.
He added that there were also others who were conned when the mobile phones they pre-ordered for their customers were not delivered by the founder.