SEREMBAN: A 51-year-old man has been scammed of some RM3.1mil after he invested in a non-existent online investment scheme, which promised unusually high returns.
District OCPD Asst Comm Mohamad Hatta Che Din said the victim, a private sector employee, was duped into investing in communications, industrial and petroleum-related shares of companies purportedly operating in China.
"The scammers got in touch with the victim via WhatsApp and he was then added into a group.
"He was also asked to register in another application so that he will be able to see his so-called profits in real time," he said in a statement.
ACP Mohamad Hatta said the victim, who was by then convinced that the investments would give him high returns, started investing on Dec 17 last year.
He transferred the cash into four accounts belonging to companies and businesses via 34 transactions.
"After making the initial investments, he saw his profits soar.
"But when he tried to make a withdrawal, he was asked to make various payments before these were released to him," he said.
ACP Mohamad Hatta said the victim finally realised that he had been cheated and lodged a report on April 17.
The case is being investigated under Section 420 of the Penal Code for cheating.
The offence carries a jail term of between one and 10 years, whipping and a fine upon conviction.
He advised those planning to make online investments, especially schemes that offered unusually high returns, to check with the authorities such as Bank Negara or the Securities Commission before investing.
The public can also call the police’s CCID Scam Response Centre at 03-2610 1559 or 03-2610 1599 for additional information.
