M’sian Company Director Loses RM1.3Mil In Online Investment Scam

He used the company’s fund too.
A company director has lost more than a million ringgit after being deceived into joining an online investment scheme for a month since April.

The victim, who only communicated with the scammers through WhatsApp, invested both personal and company funds in the fraudulent scheme.

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According to Harian Metro, Seremban District Police Chief, Assistant Commissioner Mohamad Hatta Che Din, revealed that the police received a report regarding the scam yesterday.

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The modus operandi of the syndicate involved convincing the victim to make 16 transactions, resulting in a total loss of RM1.3 million.

“The victim is a man who is also a company director. He communicated via WhatsApp with unknown individuals and joined the online investment scheme, transferring funds from April 29 to May 28,” stated Mohamad Hatta.

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The case is being investigated under Section 420 of the Penal Code. This incident is part of a larger trend of similar scams.

Mohamad Hatta noted that from January to yesterday, the Seremban District Commercial Crime Investigation Division (BSJKD) opened 55 investigation papers related to similar scams, with total losses amounting to RM4.3 million.

During this period, 23 individuals were arrested and brought to court under Section 424 of the Penal Code and Section 29 (1) of the Minor Offenses Act 1955.

Mohamad Hatta urged the public to be cautious of online investment offers and to conduct thorough checks before investing.

“For any advice or further information, the public can contact the CCID Scam Response Centre at 03-26101559 or 03-26101599,” he added.

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