BATU PAHAT: A 73-year-old man has lost RM563,560 after falling vicitm to an investment scam.
Batu Pahat OCPD Asst Comm Shahrulanuar Mushaddat Abdullah Sani said the victim came across an advertisement which promised high returns on Facebook on April 2.
He subsequently got in touch with an unknown man via WhatsApp and later transferred money into five different accounts from June 3 to July 24.
"After transferring the funds, the victim was shown a fabricated portfolio which falsely showed his profits had ballooned to RM1,770,017.79.
"The suspect then demanded an additional payment to withdraw the sum, which the victim refused to do. He never received the promised returns and his initial investment also vanished," Shahrulanuar said in a statement on Wednesday (Sept 3).
Realising he had been duped, the victim filed a police report on Tuesday (Sept 2). The case is being investigated under Section 420 of the Penal Code for cheating. – Bernama
