Retiree, 70, loses RM646,000 in fake online share investment scam
A 70-YEAR-OLD retired woman lost RM646,000 after falling victim to an online investment scam involving non-existent shares and promised returns of up to 12 per cent, police said. Brickfields district police chief Assistant Commissioner Hoo Chang Hook...
A 70-year-old retired woman has lost RM646,000 in an online investment scam, police have reported. The woman, who resided in Brickfields, made 12 transactions into three separate bank accounts after becoming involved in a WhatsApp group promoting a fraudulent investment opportunity. This scheme allegedly promised returns of 8 to 12 per cent on non-existent shares.
Upon attempting to withdraw her promised profits, which ranged from 8 to 12 per cent, the woman was instead instructed to make additional payments. She subsequently sought advice from her bank, who informed her that the investment was fraudulent before she reported the incident to the police. An investigation has been opened under Section 420 of the Penal Code for cheating, with police having recorded the complainant’s statement and obtained payment documents to aid their investigation.
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