Investors Face New Legal Battle To Recover RM8 Million From MYAirline Founder

KUALA LUMPUR, 2 Nov (Bernama) -- Fifteen investors who won a lawsuit against MYAirline Sdn Bhd co-founder Datuk Allan Goh Hwan Hua are now facing a new legal hurdle to recover more than RM8 million in repayment from the businessman as ordered by a High Court, in a ruling made on Sept 9 this year.

One of the investors, A.Prema, expressed frustration over the ongoing process, noting that a favourable court decision does not guarantee the return of their funds.

“Although the court ruled in our favour, getting the money back has proven far more challenging. We now have to embark on another complex and costly legal process. Every step requires time, energy, and significant legal expenses.

“Many of us have lost our life savings, and some have had to return to work after retirement. This is a hollow victory until our money is returned. The court’s decision should have marked the end of our suffering, not the start of another difficult chapter.

“We have proven our case in court and hope that justice is not only on paper but reflected in the return of the funds that are rightfully ours,” she said in a statement today.

Meanwhile, lawyer Rajesh Nagarajan, representing the investors, confirmed that his team has initiated bankruptcy proceedings against Goh and is seeking a confiscation order on his assets.

“We are also urging the authorities to investigate Goh for fraud, criminal breach of trust, and money laundering, and we call on the Attorney-General’s Chambers to immediately prosecute him based on solid evidence, including the recent High Court ruling,” he said.

The lawyer said the case highlights a broader failure in addressing white-collar crime in Malaysia.

“This is not an isolated incident. Bank Negara Malaysia had previously frozen accounts and imposed a RM50 million compound on the I-Serve Group,” he added.

The Kuala Lumpur High Court had ordered Goh and four companies linked to him to return over RM8 million to the investors after failing to meet monthly redemptions and investment returns.

Judge Leong Wai Hong ruled that the plaintiffs had successfully proven their claims on the balance of probabilities.

The court ordered the defendants to return RM7.61 million and SGD170,000, and to pay RM100,000 in costs, jointly or severally. The defendants include Goh, I-Serve Online Mall Sdn Bhd (ISOM), Bright Moon Venture PLT (BMV), QA Smart Partnership PLT (QAS), and Trillion Cove Holdings Bhd (TCH).

-- BERNAMA