Oil palm entrepreneur loses nearly RM250,000 to bogus investment scheme on TikTok
TANGKAK: A 56-year-old oil palm entrepreneur’s hopes of making high returns within a short period were dashed after she lost nearly RM250,000 to a bogus investment syndicate.
TANGKAK: A 56-year-old oil palm entrepreneur's aspirations of achieving high returns in a short span were shattered as she lost nearly RM250,000 to a fraudulent investment syndicate. The woman's misfortune commenced on May 6 when she came across an investment advertisement on social media. District police chief Superintendent Roslan Mohd Talib revealed that the suspect enticed the victim by promising substantial profits if she participated in the investment scheme.
Intrigued by the lucrative proposition, the victim joined the scheme on TikTok and proceeded to make 18 separate transactions amounting to RM245,403 across three accounts provided by the suspect. These transactions were executed between July 1 and August 22. The victim only discovered her financial loss when she failed to receive the promised returns, according to Superintendent Roslan.
He disclosed this information in a statement. Superintendent Roslan informed that the victim subsequently reported the incident to the Tangkak district police headquarters. The case is currently under investigation under Section 420 of the Penal Code for cheating.
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