KLUANG: A hardware company director has lost RM829,705 after falling victim to an online investment scam.
Kluang OCPD Asst Comm Bahrin Mohd Noh said the 56-year-old man came across the online investment scheme that promised lucrative returns through an advertisement on social media in March.
“He was instructed to download an investment application to participate in the scheme.
“He then made payments totaling RM829,705 in stages to five different bank accounts between June 5 and July 9,” he said in a statement on Saturday (July 12).
He added that the victim later noticed that the investment application reflected a profit of more than RM4.6mil.
“The victim was told to make additional payments to withdraw the profit, but he refused.
“He then realised he had been scammed after receiving no returns, and lodged a police report on Thursday (July 10),” he said.
ACP Bahrin added that the case is being investigated under Section 420 of the Penal Code for cheating.
“The public is urged to be more cautious about investment offers on social media that promise unusually high returns.
“They should verify such schemes with relevant agencies such as the police, Bank Negara or the Securities Commission,” he said.
He also said the latest information on scam syndicates and their modus operandi can be found on the official Facebook, Instagram, and TikTok accounts of the Commercial Crime Investigation Department.
“Anyone with questions can go to the nearest police station or contact the Kluang police headquarters at 07-7784222,” he added.
