IPOH: A retiree in Teluk Intan sold his house to raise funds for a foreign currency exchange investment scheme promising high returns.
However, the 73-year-old ended up losing RM132,590 to the non- existent scheme.
Hilir Perak OCPD Asst Comm Chua Kok Lian said the victim realised he had been cheated after failing to access the investment platform on Sept 14.
“The victim learnt about the scheme through an acquaintance and joined on July 4.
“He then made numerous ‘investments’ in stages over a two-month period,” ACP Chua said in a statement.
Upon being locked out of the system, the victim realised he had been scammed and lodged a police report on Monday.
ACP Chua added that the case is being investigated under Section 420 of the Penal Code for cheating.
“We are currently working to identify the individuals involved in the scam,” he said.
He advised the public to remain vigilant against offers promising high returns in a short time frame.
“Such offers should always be verified with Bank Negara Malaysia or the Securities Commission,” he added.
