Kuala Terengganu OCPD Asst Comm Azli Mohd Noor said the 66-year-old man was approached in May last year by a friend he knew via social media, who offered him an opportunity to participate in a business investment scheme.
He said the victim, who was promised returns of between 10% and 25% on his investment capital, registered for the scheme via a website link provided by the suspect.
“The victim was instructed to download an application purportedly to enable the investment profits to be credited to his account.
“Attracted by the high returns, the victim transferred a total of RM2.95mil in 18 transactions to an account provided by the suspect between June 10 and Nov 7 last year.”
ACP Azli said the victim realised he had been scammed when attempts to transfer funds from the application to his bank account failed.
The victim lodged a police report last Saturday, and the case is being investigated under Section 420 of the Penal Code.
In Kuantan, a doctor lost more than RM880,000 after falling victim to a fraudulent share investment scheme advertised on Facebook.
Pahang police chief Comm Datuk Seri Yahaya Othman said the 44-year-old man initially dealt with the suspect via WhatsApp.
He said the victim was offered an investment scheme, which promised returns of between 18% and 22%, as well as profits of up to 500% if investment targets for 24 types of shares were achieved.
“Enticed by the offer, the victim made 21 money transfer transactions into five different bank accounts registered under the names of several related companies from Nov 8, 2025, to Jan 7 this year, using personal loans as well as funds from Amanah Saham Bumiputera and Tabung Haji.
“The victim only received profits of RM1,000 once at the initial stage of the investment and failed to receive any further returns as promised,” he said in a statement.
Comm Yahaya said realising he had been cheated, the victim lodged a police report on Sunday.
