KUANTAN: A retired teacher claims to have lost more than RM1.1mil after falling for a fake stock investment scheme promoted on TikTok.
Pahang acting police chief Deputy Comm Datuk Azry Akmar Ayob said the 65-year-old man came across an advertisement before contacting someone who claimed to represent the company via WhatsApp.
He said the victim was briefed on stock investments and financial market analysis before agreeing to join the scheme, Bernama reported.
“He then carried out 22 transactions involving six different bank accounts through online banking and over-the-counter services at financial institutions between Aug 21 and Oct 7,” he said in a statement yesterday.
DCP Azry Akmar said the victim was asked to make further payments even after completing all the transactions.
After receiving none of the promised returns, the man suspected he had fallen victim to a scam and lodged a police report at the Pekan district police headquarters on Saturday.
The case is being investigated under Section 420 of the Penal Code.
