JOHOR BARU: A 36-year-old man was duped in a fake investment scheme resulting in losses of RM123,000.
The victim, a construction worker, received the investment offer via WhatsApp, offering returns of almost 88% from his initial investment.
Seri Alam OCPD Supt Mohd Sohaimi Ishak said the victim, who was attracted to the scheme, decided to give it a try and registered.
“The victim also downloaded the application and between Aug 1 to 22, carried out a total of nine transactions depositing money into five different accounts,” he said, adding that during that time the victim tried to cash out his earnings but the scammers kept giving excuses.
He said that the victim felt cheated when they kept on asking for additional investments promising higher returns.
The victim later lodged a police report.
Supt Mohd Sohaimi said that police have started investigations under Section 420 of the Penal Code for cheating.
He advised the public not to trust investments which were too good to be true with high returns.
