Pak Man Telo

 Pak Man Telo

Pak Man or Osman Hamzah, is a get rich quick scheme operator that is popular in Malaysia in the late 1980s.  Pak Man telo alleged operation get rich quick scheme, called Scheme Pestama Berhad since late 1970s. Get rich quick scheme is also known as Pak Man telo Scheme.

Pak Man telo is from Taiping, Perak. He served as the newspaper reporter in the 1960s and later became a freelance journalist in Bernama in the 1970s before joining the 'field' get rich quick scheme. In operation since the end of 1970, the Scheme Pak Man telo increased in popularity and gained the trust of the public because it is said to be able to maintain a smooth dividend payments to each investor in a period of many years.

March 8, 1992

The operation of the  Pak Man Scheme telo shaky start at the end of the 1980s. On October 1, 1989, several officers from Bank Negara Malaysia (BNM) has raided a house in Taiping telo Pak Man to investigate the activities of a get rich quick scheme operated. BNM raided the home of Pak Man telo for the second time on 23 November 1989 and seized cash deposit of RM1.7 million people. With the available evidence, Pak Man telo with his wife (Maimunah Taib) and their son (Abdul Rahman Osman) will face problems. 

Here is the sequence of the last moments of Pak Man telo Scheme:

     January 11, 1990 - Pak Man telo was brought to court on charges of violating the Banking & Finance Industry in 1989 for taking a deposit of RM20 million from the public without a license. Wife and son of Pak Man is accused of abetting. All three pleaded not guilty. Pak Man telo was bailed RM1 million and confiscated his passport, while his wife and their son were released on bail each with RM200 thousand. Their case will be tried.

     March 13, 1990 - Pak Man telo, his wife and their son tried in court. Pak Man telo pleaded guilty to taking deposits without a license. Pak Man sentenced on telo will be passed the next day. Wife and son of Pak Man telo released. Judges order RM1.7 million in cash seized from Pak Man telo returned to him because there is no provision to allow BNM to do so.

     March 14, 1990 - Pak Man telo sentenced to a fine of RM250 thousand or one year imprisonment. He paid the fine in cash. Although Pak Man telo guilty, but his supporters in the court celebrating 'culpability' Pak Man telo with joy (see picture above) and repeatedly shouted "Long live Pak Man"! Observers expect the scheme will telo Pak Man crushed after the get rich quick scheme but it has gained widespread exposure and become very popular.

     April to August 1990 - Scheme Pak Man telo operate as normal, fixed deposits accepted from the public that the number is increasing. Dividend yield of 10 per cent of the investment was paid without fail, but then the dividend rate was increased to 12 percent! Maybe a lot of people who managed to get rich quick in the 'glory' that.

     September 1990 - The Scheme investors Pak Man telo started tracking the return on their dividends are not included in the bank account as previous months. Some investors will only receive half of the dividend yield should be. While investors who receive a dividend yield through the checks was that it was a 'bad check'.

     19 September 1990 - Investors rushed home in Taiping telo Pak Man to seek clarification on the status of their investments.

     20 September 1990 - Pak Man telo announced a reduction in the dividend rate from 12 percent to only 5 percent. He reasoned that it was caused by the global economic recession caused by the Gulf War (which erupted on August 2, 1990). In addition, he blamed the incident deviations among the "agents".

     January 15, 1991 - The situation is getting worse, Pak Man telo failed to pay the promised dividend yield. Investors are flocking to his house to claim back their investment money. Commotion going on and cars were damaged Pak Man telo.

     February 28 to March 5, 1991 - Six men have been kidnapped Pak Man telo son, Abdul Razak Affendi (19 years), and locked up at the Tropicana Hotel, Kuala Lumpur, but all of them were arrested by the police.

     March 15, 1991 - The kidnappers Pak Man telo child was taken to court.

     6 April 1991 - An investor scheme telo Pak Man finally made ​​a police report about the abuse that occurred. Pak Man telo then was detained for several weeks by the police from Bukit Aman, Kuala Lumpur. After that Pak Man telo been banished in Kuala Terengganu, Terengganu.

     July 17, 1991 - As a result further investigation, Bank Negara Malaysia has claimed telo Pak Man in court for allegedly taking a deposit of RM99.09 million from the public (approximately 50 thousand people) without a license. Pak Man telo pleaded not guilty and claimed trial. He was granted bail of RM2 million while awaiting trial in early 1992.

     March 2, 1992 - After the trial finished, Pak Man telo who was then aged 65, was found guilty for the second time, and the court sentenced him to prison a year 'and' fine 500 thousand or one year's imprisonment. Pak Man telo eventually languished in jail for one year beginning on the date he was arrested (July 17, 1991). For the second sentence, Pak Man telo failed to pay a fine of 500 thousand and he was imprisoned again for one year beginning on March 2, 1992.


Daily reports of get rich quick scheme Pak Man telo as "one of the biggest financial scandal" in Malaysia, comparable to the case of Bumiputra Malaysia Finance (BMF) and the loss of more than RM22 million from Bank Negara Malaysia. The difference, Pak Man telo is a former journalist and not an expert in the field of economics or even skilled in the financial system, but with only backed the trust of the people, he was able to 'berskandal' (though ultimately defeated) involves an extreme amount of money.

Additional notes:

     According to the Dictionary of the House, the scheme means "plan", and get rich quick scheme means "investment scheme that supposedly can provide returns (profits) immediately and very lucrative".
     The origins of the nickname "Mr. Man telo" (Osman Hamzah) not described in the article referred to. In the local entertainment scene, a stage actor at the end of the 1980s have used Pak Man telo (he never Widow movie Exploded in 1990), but he was not Osman Hamzah.

     Besides Pestama Scheme Limited (Scheme Pak Man telo) of illegally collecting deposits of RM99.09 million from people, there are many get rich quick scheme that has operated in Malaysia until early 1992, include:

•          350 schemes (collect deposit RM70 million)
•          Tingcon Credit Scheme Development Sdn Bhd (RM60 million)
•          Gems scheme Bakti (RM30 million)
•          Scheme 120 (RM20 million)
•          Permata Pintar Scheme (RM19 million)
•          Sri Emas Enterprise Scheme (RM10 million)

Credits:
http://arkibnegara.blogspot.com/2013/09/skim-cepat-kaya-pak-man-telo-1992.html