Man loses RM363,887 in alleged fake bank auction property scam in Miri
MIRI, Oct 17 — A man who intended to buy a property for his family has allegedly been cheated out of RM363,887.49...
Miri police have reported a man who allegedly lost RM363,887.49 in a fake bank auction property scam. The 56-year-old victim, who had known the suspect for two years, intended to purchase a family home in Kuching. The suspect offered five houses in Kuching's Taman Abadi area, claiming they were auctioned properties at lower prices.
The victim made payments in stages between November 2025 and January 2026, but the purchases were not completed as promised. The victim also had not received complete documents proving ownership of the houses. The police are investigating the case under Section 420 of the Penal Code, which pertains to cheating and dishonestly inducing the delivery of property.
Authorities advise the public to be wary of unrealistically low property offers, verify property status through official channels, consult legal experts, and avoid transferring funds to third-party accounts without proper verification.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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