Mechanic loses nearly RM1 million to non-existent stock investment scheme
He was contacted by someone claiming to be a representative of the investment scheme, and was told to transfer funds into 10 accounts.
SEREMBAN - A mechanic suffered a loss of almost RM1 million after being duped into investing in a stock investment scheme advertised on Facebook that actually did not exist.
Nilai district police chief Supt Abdul Malik Hasim said the victim, a 57-year-old local man, lodged a police report late yesterday.
According to the victim, after agreeing to invest in the stock investment scheme, he was contacted by someone claiming to be a representative of the investment scheme, and was told to transfer funds into 10 accounts, which he did through 14 transactions involving RM923,350," he said in a statement here today.
Malik said the mechanic realised he had been cheated after being asked to make an additional payment of RM400,000 if he wanted to withdraw the promised profit and lodged a police report.
He said the case was being investigated under Section 420 of the Penal Code. - BERNAMA
