JOHOR BARU: A 67-year-old man lost over RM625,000 after falling for a fake investment scheme that promised high returns.
Johor Baru North OCPD Asst Comm Balveer Singh said the victim was contacted by an individual named Susan, who introduced him to the scheme in March.
“She got in touch with him through WhatsApp with the attractive opportunity of earning at least 15% profits from his invested amount.
“The victim was then added into a chat group on the app where he was instructed to download another app to manage and monitor his investment,” he said in a statement on Monday (May 26).
He added that the victim followed the instructions and performed 16 transactions, depositing RM625,250 in total into five different bank accounts from March 22 until May 19.
ACP Balveer said the victim realised he was scammed when he failed to withdraw his profits.
“He was instead told to deposit more money into the scheme so he decided to lodge a police report on Sunday (May 25),” he said, adding that the case is investigated under Section 420 of the Penal Code for cheating, which carries a jail term of up to 10 years and caning and a fine.
ACP Balveer said actions will also be taken against those involved in letting others use their bank accounts as mule accounts.
“The public is advised to exercise caution when it comes to investments or depositing their money with strangers.
“The people should also be more aware of commercial crime trends and avoid falling prey to such tactics,” he added.
He urged people to use the police’s SemakMule portal or app to verify and check the list of mule bank accounts, phone numbers and shell companies used by scammers.
