Man loses over RM840,000 in online investment scam

JOHOR BAHRU - A man has lodged a police report claiming to have suffered losses amounting to RM846,500 after he was allegedly duped by an investment offered through a company's website promising a handsome profit within three hours.

Seri Alam District Police Chief Supt Mohd Sohaimi Ishak said they received a complaint about the incident involving a 49-year-old man, who now lives in Australia, through a lawyer on Friday (Nov 3).

"It all started on Sept 16 when the victim received an offer through the website of a company known as TMGM to invest US$18,888 that would earn him a profit of US$100,000 within three hours.

"The offer was said to be in conjunction with the 10th anniversary of TMGM and the victim fell for it," he said in a statement today.

He said the victim made 12 transactions to three Malaysian bank accounts totalling RM846,500 between Sept 16 and Sept 26 but the victim did not receive the promised returns.

Mohd Sohaimi said the case is being investigated under Section 420 of the Penal Code and the probe will also look into the involvement of mule account holders, if any. - BERNAMA