Perhaps within 2 years after my initial investments, Ranjeet started another scheme to replace the investors who were stuck in his first scheme, the Tri Capital Venture scheme. This time his new scheme (or scam) was called the Peninsula Asia Capital Sdn Bhd. I still remember how one of his honchos bragged that this new scheme is located just behind Peninsula Asia Hotel in Damansara Heights that “belongs” to Ranjeet through Peninsula Asia Capital Sdn Bhd. Heck even the name card logo and font were also similar and some of us were again impressed of Ranjeet’s achievement. At times Ranjeet referred to this scam as Peninsular Asia Investment House that is managed by Merrill Lynch. We really thought our investments were behind some of these so called “successes”. Some of us including me, poured even more money into Ranjeet’s scheme. Looking back, I feel so stupid now. Based on what we managed to dig out from VJ, the amount of money siphoned using this scam exceeds $62mil the largest being from one trust account belonging to a deceased businessman through a lawyer who worked with Rashpal. Obviously the process was entirely handled by Ranjeet using G&P and 3 money changers.
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