KUANTAN: A private sector employee lost more than RM600,000 after being duped by a bogus stock investment scheme promoted on social media.
Pahang police chief Datuk Seri Yahaya Othman said that on Nov 3 last year, the victim, a 57-year-old man, is believed to have contacted the suspect via WhatsApp after seeing a stock investment advertisement promising lucrative returns.
"The suspect offered a stock investment scheme with a guaranteed profit of 30 per cent within one month, with a minimum capital of RM10,000. To convince the victim, the suspect instructed him to download an investment application," he said in a statement on Thursday (Feb 19).
He said that through the application, the victim was shown purported profits that kept increasing, eventually reaching approximately RM1,843,765.38, including investment commissions.
"However, when the victim attempted to withdraw the invested funds along with the displayed profits, the suspect provided various excuses and demanded additional payments before the withdrawal process could be carried out.
Yahaya said that between Jan 9 and Feb 11, the victim made four fund transfers to four different bank accounts, using his personal savings and loans from family members, resulting in total losses of RM636,123.
In this regard, he also advised the public to conduct checks and seek early advice from the nearest police station before participating in any investment, to avoid falling victim to fraud.
"The public is also encouraged to verify bank account numbers through the Semak Mule website before carrying out any financial transactions. Scam victims are also advised to immediately contact the National Scam Response Centre (NSRC) at 997 for prompt assistance," he said. – Bernama
