Shop assistant loses over RM500,000 to investment scam

KUANTAN: A shop assistant was devastated to discover that he lost RM521,000 to a non-existent investment.

Pahang police chief Datuk Seri Yahaya Othman said the 39-year-old man was initially attracted to join a stock investment scheme that promised a 15% profit through a Facebook page last December.

He said the victim then registered for the investment through a stock investment platform website before successfully withdrawing RM1,000 of profit from investing RM50,000.

“He then pooled savings and loans from family members to transfer RM521,000 through 15 transactions to four different accounts from Jan 25 to last Saturday (Feb 3).

“However, the victim realised that he had been cheated after failing to withdraw a profit amounting to RM1,767,258 through the website," he said on Monday (Feb 5).

He said the victim lodged a police report at the Bentong police headquarters yesterday, and the case is being investigated under Section 420 of the Penal Code for cheating.

Meanwhile, Yahaya advised the public to always be wary of investment schemes that promise lucrative profits. – Bernama

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Investment , Scam , Non-Existing , Cheat ,


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