JOHOR BAHRU : A 66-year-old company director has fallen victim to an online investment scam, resulting in losses totalling RM1.8 million after being enticed by promises of exceptionally high returns.
According to Johor police chief Comm Datuk Kamarul Zaman Mamat, the individual came across a social media advertisement in October 2024 that promoted a scheme offering a 200% return on investment within three months. Intrigued by the opportunity, he clicked on a link provided in the advertisement to obtain further information.
He was subsequently persuaded to transfer large sums of money to several bank accounts between November 2024 and January 2025, believing he was participating in a legitimate investment. The victim also downloaded a mobile application and created an account as instructed by the alleged scammer to track the status of his investment.
“No returns were received over the stated period. When questioned, the suspect offered various excuses and eventually cut off all contact. The victim realised he had been defrauded when he was unable to reach the individual and was blocked from accessing the investment platform,” said Comm Kamarul in an official statement.
The businessman lodged a police report yesterday. Authorities are currently investigating the matter under Section 420 of the Penal Code for cheating and dishonestly inducing the delivery of property.
Comm Kamarul advised the public to remain vigilant and not fall prey to online investment schemes that promise unrealistically high and rapid returns. He reiterated the importance of verifying the legitimacy of such offers with relevant regulatory bodies before proceeding with any form of financial commitment.
–Bernama
