Elderly couple scammed of over RM1.3mil in investment scheme

KUALA LUMPUR: "Zero savings, zero, can’t even afford a cup of coffee,” was the lament by an elderly pensioner who lost over RM1.3 million after falling prey to an investment scam run by a company based in the city.

Abdul Fattah Yassin, 64, said while other senior citizens are enjoying their twilight years with their families, he has to continue slogging to make a living for himself and his family.

Abdul Fattah, who runs a Geomatics consultant firm, said he and his wife invested RM960,000 and RM360,000 respectively, into the company in mid-2019, using the firm’s working capital, pension funds, and savings.

The father of two said he and his wife received only three months of dividends, after which they realised it was a scam when the company shut down its operations and became uncontactable.

"I was misled when I failed to research this investment company. I trusted them after seeing their Securities Commission Malaysia registration documents.

"I also knew the investment agent well, he is a former bank officer. He also invested in the company and both of us were deceived. I am terribly disappointed with what happened, this matter must be taken seriously by the authorities,” he said.

He was speaking to reporters after handing over an application requesting a status report on the investigation involving nearly 400 victims of an in-person fraudulent investment scheme worth over RM140 million at the Bukit Aman Commercial Crimes Investigation Department, Menara KPJ, here on Monday.

The current status report under Section 107A of the Criminal Procedure Code on the investment scheme was handed over by Malaysian International Humanitarian Organisation secretary-general, Datuk Hishamuddin Hashim to Bukit Aman's Electronic Card Investigation Unit Head, Supt Nooranita Ismail.

Meanwhile, another victim, former civil servant Harun Mohd Yunos, 63, said he and his wife lost RM500,000 after investing in the same company in October 2022 under the influence of friends.

"We each put in RM250,000 of our pension funds. We received dividends for the first six months and then the company just vanished,” he said.

Its director, Datuk Seri Ramli Mohamed Yoosuf verified that the department has received the application requesting a status report and investigations are ongoing. — Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Scam , Investment , Elderly Couple , Civil Servant


Next In Nation

What if you get Covid?
Insidious world behind the screens
When algorithms amplify bullies
Nenggiri polls: Gua Musang Umno submits names of three young prospective candidates
Rapid KL introduces MyCity two-day pass
Inability to meet fire safety standards among reasons for unregistered tahfiz centres
Sabah Bersatu secretary Abdul Kadir steps down
BN may go solo for GE16, says Tok Mat
Peja willing to give way to Hamzah to be Bersatu no. 2, says Muhyiddin
BTS' Jin to carry Olympic torch near Louvre Museum

Others Also Read