KULAI: An engineer has fallen victim to a fraudulent investment scheme, losing more than RM160,000 of his savings to a syndicate promoting a non-existent stock trading platform that promised lucrative returns.
Kulai OCPD Asst Comm Tan Seng Lee said the 30-year-old male victim lodged a police report on Tuesday (May 27) after realising he had been duped.
“The victim was lured by a scheme that promised returns of between 8% and 20% within just seven days.
The suspect claimed that profits from the investment would be credited into the victim’s account via an app called P3-DMA,” he said here on Wednesday (May 28).
ACP Tan added the victim, enticed by the potential gains, then proceeded to make 11 transactions between April 3 and May 22 this year, transferring a total of RM169,500 into a local bank account believed to be linked to the syndicate.
He said the victim later checked his P3-DMA account and saw a balance showing an alleged return of more than RM422,000.
“When he tried to withdraw the so-called profits, the suspect demanded an additional payment of RM80,000 in order to process the withdrawal.
“It was at this point the victim suspected he had been scammed and came forward to file a report,” he said, adding that the case was being investigated under Section 420 of the Penal Code.
ACP Tan urged the public to exercise caution when offered investment opportunities that promise unrealistically high returns in a short period of time.
“We advise the public to verify the legitimacy of investment schemes and use official online services provided by the police commercial crime investigation department, such as the National Scam Response Centre (NSRC), CCID Infoline, and Semak Mule.
“Information on the latest scams is also regularly updated on the official Royal Malaysia Police Facebook page,” he added.
