JOHOR BARU: A 67-year-old retired teacher lost more than RM500,000 after falling victim to a fraudulent investment scheme promising returns of up to 50%.
Johor Baru South OCPD Asst Comm Azrul Hisham Mohd Shaffei said the victim saw an investment advertisement on Facebook on Sept 16 and contacted an individual by telephone for more information.
"The victim was offered an investment scheme promising returns of up to 50% of the capital invested.
"He was told to transfer money into designated bank accounts, with the promised profits to be credited directly into his own account," he said here on Tuesday (Nov 3).
ACP Azrul Hisham added that believing the offer, the victim made 16 online transfers involving six different bank accounts between Sept 17 and Oct 29.
He said the total amount transferred was RM521,787, comprising the victim’s savings.
ACP Azrul Hisham also said that the payments were made for various purported purposes, including investment capital, investment account opening fees, signature verification and security deposits.
"However, even after making all the payments, the victim was repeatedly asked to transfer additional money.
"Realising that he might have been cheated, the victim refused to make further payments and lodged a police report on Monday (Nov 2)," he added.
ACP Azrul Hisham said the case is being investigated under Section 420 of the Penal Code for cheating and Section 4(1) of the Computer Crimes Act 1997.
He advised the public to be wary of investment offers promising unusually high returns, particularly those advertised through social media and unverified platforms.
They are also urged to check suspicious bank accounts through the Semak Mule portal at semakmule.rmp.gov.my before making any transactions.
Those who suspect they have fallen victim to a scam should contact the National Scam Response Centre at 997 immediately.
