[2] Their crash caused a major political crisis when the government was requested to bail out risk-taking investors.
[4] These institutions became identified as a type of pyramid scheme because of the need to continuously attract new depositors in order to meet obligations.
On October 20, 2008 [5] Bank Negara Malaysia seized several more institutions: BuluhMas, Jazmeen (of Indian/Mamak origins), Noradz and Eastana Farms.
Officially, these deposit-taking co-operatives are subject to the financial acts governed by the Minister of Finance.
Malaysia Companies house SSM have recently released the top 100 Co-ops list on their site for the public perusal.