Man loses RM1.14mil to 'investment' scheme promising 15 per cent returns

PONTIAN: A 52-year-old man suffered a loss of RM1.14 million due to falling for an online investment scam that promised returns of up to 15 percent. Police Chief Superintendent Hadzrat Hussien Mion Mussain of Pontian revealed that the victim initially met a woman named Fairini through WhatsApp in early January. The suspect offered an investment scheme with the promise of fast and profitable returns of up to 15 percent of the total investment.

On February 8, the victim made a trial investment of RM5,000 into a bank account provided by the suspect. Superintendent Hadzrat explained that the victim received a payout of RM5,877.65 as returns shortly after the transaction. This payout made the victim believe in the scheme's legitimacy, leading him to make several additional transactions in stages to various bank accounts provided by the suspect between February 8 and March 26, amounting to a total of RM1,151,621.96.

The victim only realized he had been cheated when the suspect demanded further payments to withdraw his supposed profits. The case is currently being investigated under Section 420 of the Penal Code, which includes penalties such as imprisonment for one to ten years, whipping, and a fine upon conviction.