MUAR: A man here was duped into losing almost half a million ringgit in a bogus online investment scheme promising high returns within months.
Muar OCPD Asst Comm Raiz Mukhliz Azman Aziz said the 46-year-old victim lodged a police report on Monday (July 28) after realising he had been scammed out of RM488,740 over two months.
“The victim came across an investment advertisement on social media and clicked on a link which directed him to communicate with an unknown individual via WhatsApp.
“The victim was then instructed to download a mobile application called ‘PHG Plus’, allegedly for investment purposes,” he said here on Tuesday (July 29).
ACP Raiz Mukhliz added that the victim, who works at a furniture factory here, was promised an attractive return of 50% within a week and up to 500% in six months.
He said between May 21 and July 21, the victim made 39 transactions totalling RM488,740 into six different bank accounts provided by the suspect.
“However, when he tried to withdraw his so-called profits, which appeared to have reached over RM6mil in the app, he was told to first pay an additional RM600,000 as ‘income tax’.
“It was at that point that the victim realised he had been cheated,” he said, adding that the case was being investigated under Section 420 of the Penal Code for cheating.
ACP Raiz Mukhliz urged the public to be vigilant against online investment scams that promise unrealistic returns within a short period.
“Always verify with official sources before making any financial commitments.
“Please follow the Royal Malaysia Police Commercial Crime Investigation Department's social media accounts on Facebook, Instagram and TikTok for updates on the latest scam tactics,” he added.
