The founder of insolvent MYAirline (MYM, Kuala Lumpur Subang) is one of three defendants ordered to hand over bank account statements in an ongoing civil suit brought by multiple plaintiffs regarding an allegedly fraudulent investment scheme.
Goh Hwan Hua and two entities associated with him, I-Serve Online Mall Sdn Bhd and QA Smart PLT, lost their application to delay the discovery order, with the Kuala Lumpur High Court ordering on September 17 that they provide bank statements by the close of business on September 26.
According to the Free Malaysia Today news outlet, 213 investors have filed a civil suit against Goh, his wife Neow Ean Lee, and 18 entities associated with the couple. The statement of claim alleges the investors deposited MYR70 million ringgits (USD16.5 million) in companies under the I-Serve group but were never repaid. The lawsuit alleges Goh controls the various entities. The investors are seeking damages for fraud, negligence, conspiracy and innocent misrepresentation, plus any exemplary and aggravated damages the court sees fit to award.
Goh was behind MYAirline, a short-lived low-cost carrier that suspended operations in October 2023 citing financial issues and the need to restructure and recapitalise. To date, it has achieved neither of these goals and remains inactive. Goh and his immediate family members have been under scrutiny by Malaysian authorities both before and after the demise of MYAirline, with reports of office raids, lawsuits, and arrests.
The current lawsuit returns to court on October 14.
