Over RM1.6mil lost in two scam incidents, say Johor cops

JOHOR BARU: Police here have received two reports on fake investment scams with losses amounting to more than RM1.6mil.

Johor police chief Comm M. Kumar said that the first police report was lodged on Friday (Feb 16) by a 61-year-old businessman who came across an advertisement for an investment opportunity on social media.

"The victim then received a link and communicated with an individual who told about investing through the Accerx cryptocurrency application.

"He then transferred more than RM1.2mil to multiple bank accounts between November 2023 and January 2024," said Comm Kumar in a statement on Saturday (Feb 17).

He said that the victim realised he was duped when he was unable to withdraw the profits he had made.

"The second report was from a 65-year-old woman who received a call from an unknown individual.

"The suspect offered an investment opportunity called 'Fidelity' that promised a 30% return on the total investment," he said.

"She then made payments of RM390,000 to multiple bank accounts between November 2023 and January 2024," he said.

Comm Kumar said the victim realised that she had been duped when she could not withdraw the money from the app and was told to make another 30% payment if she wanted her money.

Both cases are being investigated under Section 420 of the Penal Code for cheating.