Women loses RM350,000 to 'investment scheme'

JOHOR BARU: A 47-year-old local woman lost RM350,793.71 after investing in a scheme known as ‘C CHARGE’ this year.

North Johor Bahru district police chief ACP M S Balveer Singh said police received a report on the matter at 12.49pm on June 15.

"The investment scheme started operating in March 2023 and promised 100 per cent returns.

"However, after the victim transferred her funds into the investment, the returns were not paid,” he said in a statement on Thursday (July 27).

Following investigations, on July 25 police detained a local man, 48, who is the owner of the bank account into which the victim had transferred her money, he said.

Balveer Singh said the case falls under Section 420 of the Penal Code, which is punishable by a minimum of one year and up to 10 years imprisonment as well as caning and a fine, upon conviction.

He advised the public to be cautious in their online dealings to prevent becoming victims of such scams and to always check unknown telephone numbers and bank account numbers on the ‘Semak Mule’ app. - Bernama