Man loses over RM2.2mil to online investment scam


KUCHING: A 59-year-old man lost over RM2.2mil to an online stock investment scam.

Kuching OCPD Asst Comm Alexson Naga Chabu said the victim was at home on Aug 18 when he was added to a WhatsApp group and introduced to a fake stock investment scheme called 'MLK1'.

The victim was then instructed to download an app called 'MLMA' to participate in the investment, which promised high returns.

"He made 22 online transfers into 11 different bank accounts amounting to RM2,268,696.90," said Alexson.

He explained that the victim realised he had been cheated only after he failed to withdraw the supposed investment profits of RM39,103,045.06, which were displayed in his account on the MLMA app.

ACP Alexson said the case was being investigated under Section 420 of the Penal Code for cheating, which carries a penalty of imprisonment between one and ten years, as well as caning, upon conviction.- Bernama

 

 

 

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
police , WhatsApp , online , investment scam , man , lost , app

Next In Nation

Discussions to resume between govt and Terengganu on Felda-managed lands in the state, says Fahmi
KL-Seremban rail travel under an hour possible with new trains and track, says Loke
Delivery rider killed by falling tree in Melaka
Mom earns PhD as son graduates on same day
Like Hajiji swearing-in as CM at 3am, elected reps must immediately fulfil their pledge to the people, says PM
Media and civil society organisations vital pillars of healthy democracy
MCA Youth proposes party exits unity government if key concerns not addressed
Concrete barriers installed to block Gua Musang-Lojing collapsed road section
Putrajaya will keep its word on Sabah’s 40% revenue rights, says PM Anwar
20,100 affordable housing units in Johor completed, over 9,900 to follow next year

Others Also Read