KUANTAN - The desire for quick profits ended in a disaster for a clerk when she lost more than RM100,000 in a bogus investment scheme via Instagram.
Pahang police chief Datuk Yahaya Othman said the 37-year-old woman not only withdrew all her savings but also took up a personal loan for the investment.
"The victim claimed she was introduced to the investment by a foreign man she acquainted via social media on May 4.
"The suspect invited the victim to join the investment using US dollar with guaranteed profits of 10 per cent in 120 seconds,” he said in a statement here today.
The victim also claimed the investment was open to a starting capital of just RM1,000 only.
Yahaya said the victim claimed she made 11 online transfers to six different bank accounts provided by the suspect in two week starting from June 2.
The victim then realised she had been cheated after making a total payment of RM113,875 when she could not contact the suspect who promised to visit Malaysia to meet the victim.
In this regard, the victim lodged a report at the Jerantut police headquarters yesterday.
He advised the public not to be easily fooled by investments that promise lucrative returns in a short time and to check with the police or Bank Negara Malaysia (BNM) so as not to become a victim of fraud. - BERNAMA