Time and time again, the authorities have warned Malaysians to always be on their guard and be wary of investment schemes that seem too good to be true.
However, in yet another case of gullible individuals falling for such schemes, a businessman found himself robbed of millions of Ringgit after falling prey to an investment scheme which turned out to be fake.
M’sian man cheated of RM3.5mil by fraudsters
In a statement by Selangor police chief Datuk Hussein Omar Khan, he said preliminary investigations showed the 67-year-old victim came across an advertisement on Google promoting an investment scheme named ‘Primus Pacific Partners’.
After clicking on the advertisement, the victim found himself being directed to WhatsApp clicked and was subsequently contacted via a phone call by a woman known as ‘Ms Ng’ claiming to be an investment coach.
“After the investment scheme was explained to him, the victim was added to a WhatsApp group and followed the scheme for a week.
“Ms Ng’ then instructed the victim to register as a new investor on a platform named primuspacificpartners.biz,” said Hussein as quoted by NST.
At the start, the victim received an initial return of RM24,308.48, which caused him to be place more confidence in the scheme. He later made 13 fund transfers totalling RM5.3 million to three different bank accounts.
The victim, who was promised returns based on market rates, then tried to withdraw his investment profits but was instructed to pay various tax charges to do so.
Case probed for cheating
An investigation paper has since been opened under Section 420 of the Penal Code for cheating, which provides a maximum penalty of 10 years in jail, whipping, and a fine upon conviction.
Police have called upon the public to remain vigilant against investment schemes on social media, especially those offering unrealistic returns or involving financial platforms not approved by Bank Negara Malaysia (BNM) or the Securities Commission Malaysia.
Should they encounter suspicious or fraudulent calls, they are encouraged to call the National Scam Response Centre at 997 for verification, advice, or to lodge a report.
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