Project manager loses over RM138,000 to investment scam


JOHOR BARU: A project manager lost over RM138,000 after falling for an investment scam that promised him returns of at least 20%.

Seri Alam OCPD Asst Comm Mohd Suhaimi Ishak (pic) said the 37-year-old victim came to know of the “investment opportunity” when he received a call from someone who claimed to be an employee of a well-known bank in September last year.

“The suspect apparently offered the victim a stock investment that yields handsome returns. The victim was then added to a WhatsApp chat group where he was given more information on what to do.

“Attracted by the promise of high returns through easy means, the victim proceeded to perform 30 online banking transactions amounting RM138,300 to a single bank account,” he said in a statement on Thursday (Jan 23).

“The victim was convinced that the transactions, made from Nov 13 to Dec 14 last year, would be used as startup capital to participate in the investment and for tax payments for when he starts making profits in the future,” added ACP Sohaimi.

The victim’s dreams were shattered early this month when the suspect informed him that the stock value was on the decline and he was subsequently kicked out of the investment group chat.

The victim was also blocked from contacting the suspect’s mobile number and that was when he realised that he had been scammed.

The victim, who works in the private sector, lodged a police report on Wednesday (Jan 22), said ACP Sohaimi, adding that the case is being investigated under Section 420 of the Penal Code for cheating.

If convicted, the offence is punishable with imprisonment of one to 10 years, caning and a fine.

He added that the investigation also found that a mule account was used in the transactions, which is an offence under Section 424 of the Penal Code, which criminalises the use of another person’s payment instrument or bank account.

It is punishable with a fine of up to RM100,000 or up to seven years imprisonment or both upon conviction.

“The public should be extra careful when it comes to online investment opportunities as fake investment schemes that promise high and easy returns are rampant these days.

“Before committing to an investment, the people are advised to check its legitimacy with the authorities such as the police, Bank Negara Malaysia or Security Commissions Malaysia,” he said.

He recommended that the public also use the police’s Semak Mule portal to check bank account numbers before making transactions or by getting advice from the National Scam Response Centre at 997.

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