JOHOR BARU: A company manager lost more than RM500,000 after falling victim to a non-existent stock investment scheme.
Kulai district police chief Supt Tan Seng Lee said the 55-year-old man filed a police report on Thursday, claiming he was promised quick and substantial returns.
He said the alleged investment profits were said to have been deposited through an application known as “P Trade Online”.
“Enticed by the promised lucrative profits, the victim proceeded to make 18 transactions totalling RM527,116 into three local bank accounts between Sept 19 and Oct 25,” he said in a statement yesterday, Bernama reported.
The victim realised he had been deceived after he was unable to withdraw his purported profits of 3.251 million yuan (RM2mil), and was instead asked to make an additional payment of RM239,116.
Supt Tan said the case is being investigated under Section 420 of the Penal Code.
