Businessman loses RM2 million to online investment scam
Johor police chief Datuk M. Kumar said the man was added to a WhatsApp group promoting a foreign currency investment scheme that promised high returns.
JOHOR BAHRU - A 70-year-old clothing store owner claimed to have suffered losses of over RM2 million after falling victim to an online investment scam.
Johor police chief Datuk M. Kumar said the man was added to a WhatsApp group promoting a foreign currency investment scheme that promised high returns.
He said the victim then contacted the group’s administrator to learn more about the investment.
“Believing in the promised quick profits, he made multiple transactions amounting to RM2.118 million to several bank accounts as instructed by the suspect between November and early December.
“He also followed directions to download an app and register an account to monitor his investments,” he said in a statement last night.
Kumar said the victim later found his account reflecting profits of over RM6.2 million but could not sell the shares or withdraw the alleged earnings.
Believing he had been scammed, the man filed a police report in Batu Pahat yesterday.
The case is being investigated under Section 420 of the Penal Code. - BERNAMA
