KULAI: An accountant lost RM916,700 after falling victim to a non-existent investment scam that promised lucrative returns.
Kulai OCPD Asst Comm Tan Seng Lee said the 55-year-old woman lodged a report on Friday (Dec 5).
"The victim was interested in an investment scheme promising returns of 30% to 40% within 24 hours.
"The suspect claimed that the profits would be credited into the victim’s account through an investment application," he said in a statement on Saturday (Dec 6).
He added that the victim, who was enticed by the promises, made 35 transactions amounting to RM916,700 into four local bank accounts.
"The victim made the transactions between Oct 2 and Nov 11. She also checked her investment account and found that her purported profits amounted to RM5,435,748.
"However, when she attempted to withdraw the money, she discovered that her investment account had been blocked," he said.
He said the case is being investigated under Section 420 of the Penal Code for cheating involving a non-existent investment scheme.
Upon conviction, the offence carries one to 10 years of imprisonment, whipping, and a fine.
ACP Tan also advised the public not to be easily deceived by investment offers promising high returns in a short period of time.
