BATU PAHAT: A senior citizen here lost RM100,000 after falling victim to a bogus investment opportunity from a foreign-based company.
Batu Pahat OCPD Asst Comm Shahrulanuar Mushaddat Abdullah Sani said that the 68-year-old businessman lodged a police report about the incident.
“According to the victim, in early 2023, he received a WhatsApp message from an unknown individual claiming to be a representative of a company based in a neighbouring country.
“The individual offered him an opportunity to invest in the company’s stock, promising high returns for a large investment,” he said on Saturday (Oct 26).
ACP Shahrulanuar Mushaddat added that the victim conducted online research on the company and found that it really existed.
“Believing the investment was legitimate, the victim transferred RM100,000 into the company’s bank account on Tuesday (Oct 22).
“He was then given a password to buy or sell stocks with the company but later discovered he could not perform any transactions in the investment system,” he said.
ACP Shahrulanuar Mushaddat said that the victim contacted the company and was informed he was not listed as one of the company’s stockholders.
He added that this led the victim to suspect he had been cheated, resulting in a loss of RM100,000 through the bogus investment scheme.
ACP Shahrulanuar Mushaddat said the case is being investigated under Section 420 of the Penal Code and urged the public to be cautious, especially when encountering investment opportunities that promise high returns.
