A local man working in the private sector was left with no tears to cry after he was swindled of millions of Ringgit in a non-existent investment scheme.
A police report has since been lodged over the matter and the authorities are currently conducting investigations.
M’sian private sector worker cheated of RM3.1mil
Seremban district police chief Assistant Commissioner Mohamad Hatta Che Din said in a statement that the victim, who’s in his 50s, began investing in stocks related to communications, industry, and oil which allegedly operated in China.
He added the victim had been in contact with several individuals since December of last year through WhatsApp.
“The victim was added to a WhatsApp group named ‘III VIP-S16-Invesco Investment Club (Singapore LTD)’ to participate in the investment scheme.
“On top of that, he had registered on the IAMS FLC app, where all investment activities and purported profits were displayed,” he said.
For investment purposes, the victim made 34 transactions into four accounts which were registered under different company and business names.
“After making the payments, the victim saw that his investment account was showing profits through the app but was nevertheless instructed to make additional payments when he wanted to withdraw the profits,” explained Hatta.
By the time the victim realised he had been duped, it was already too late and it led him to losing RM3.1 million.
Hatta said police have received a report about the scam and it’s being investigated under Section 420 of the Penal Code for cheating.
He also reminded the public to always be cautious and do their due diligence before joining any investment scheme, especially those that promise unrealistically high returns.
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