JOHOR BAHRU, Jan 10 — An insurance manager lost RM1.393 million after allegedly being scammed into an online investment scheme in November last year.
Johor police chief Datuk M. Kumar said the 59-year-old man had received a message via the WhatsApp application from one 'Iris Ng' who offered him to invest in stock trading, promising a profit of 580 per cent within two months.
The victim was then instructed to upload an application to register and monitor his investment account.
"The victim, who was attracted by the promised profit, made 15 payment transactions to several bank accounts totalling RM1,400,500 between November last year and the beginning of this month.
"After the payments were made, the victim checked the trading app which showed that his investments had accrued a profit of RM4.7 million," he said in a statement today.
The victim then decided to withdraw the profit, only receiving RM7,500, adding that he was told to make an additional payment of RM80,000 if he wanted to withdraw the entire sum.
"However, he did not follow through with the latest payment as he believed he had been cheated before making a police report yesterday," Kumar said.
The case is being investigated under Section 420 of the Penal Code for cheating.
Kumar advised the public to be more vigilant and not be easily duped by any online investment offer that promised highly lucrative returns in a short time.
— Bernama
