Retiree loses RM435,000 to investment scam

SIBU: A retiree in Mukah was fleeced of his life savings of RM435,000 in an investment scam.

Mukah OCPD Deputy Supt Muhamad Rizal Alias said the 68-year-old victim's ordeal started on Feb 8 when a man who introduced himself as Eric Yee invited him to invest in a company's shares.

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The suspect added the victim to a WhatsApp group "IG Global" and uploaded the investment scheme in PDF format.

"The man was interested and made 15 transfers totalling RM435,000 to different bank account numbers between March 16 and April," said DSP Muhamad.

He added that on April 22, a woman participant in the scheme told the victim that she could not withdraw the profit from her investment.

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"The victim tried to withdraw RM2,225 but failed. He later found that he had been blocked from the group," he said.

The case is being investigated under Section 420 of the Penal Code for cheating.