Gold investment scam leaves victims poorer by nearly RM120,000

JOHOR BARU: A bogus online gold investment scheme has left victims poorer by almost RM120,000 with three police reports lodged on the matter.

Seri Alam OCPD Supt Mohd Sohaimi Ishak said the first report was lodged on Wednesday (Sept 29) where the victim received an opportunity to invest in a gold investment scheme.

"The victim was offered returns of between eight percent and 11% within three days for an investment package as low as RM300.

"Until today, three victims, aged between 25 and 50, have lodged police reports about this gold investment scheme where their losses amounted to almost RM120,000," he said here on Friday (Oct 1).

He added that the victims came across the offer about the investment scheme through the internet while one victim was introduced through a friend.

"The victims only realised that they had been cheated when they could no longer find the investment website on the internet," he said, adding that the case was being investigated under Section 420 of the Penal Code for cheating.

Supt Mohd Sohaimi also advised the public not to be gullible and fall victim to such investment schemes that offered illogical high returns.

"The public should check with Bank Negara through their website before making any decision to invest in such investment schemes," he said.