KUALA LUMPUR: A construction company director with a Datuk title has lost RM26.6mil in a cryptocurrency investment scam.
Bukit Aman Commercial Crime Investigation Department (CCID) director Comm Datuk Seri Ramli Mohamed Yoosuf said the victim saw the scheme advertised online.
"He then clicked on a web link and was added to a WhatsApp group.
"He was then taught about investing in crypto by an individual who introduced himself as 'Professor Stanley Lim'.
"Attracted by promises of lucrative returns, the victim downloaded an application and began investing," he told a press conference at CCID headquarters here on Friday (Feb 21).
Comm Ramli said the victim conducted transactions with nine bank accounts registered under various companies between Oct 17 and Dec 24.
"He transferred a total of RM26.6mil.
"He checked on the progress of his investment through an application, which showed he had made US$269.247mil (RM1.3bil).
"However, when he wanted to withdraw the money, the victim was instructed to pay RM5.56mil for so-called tax charges," he said.
Five bank accounts used in the case are also connected to 38 other scam cases, Comm Ramli said.
"A total of 46 police reports have been lodged on this investment scam involving losses totalling RM61.4mil.
"Unfortunately, there are still those who are being duped by such scams despite previous alerts made about this investment scheme," he said.
He reminded the public to invest wisely.
"All investment offers advertised on social media are scams.
"Go to verified entities to invest and do proper checks with the authorities before making any form of investment," he said.
