Businessman Loses Over RM1 Million To Online Investment Scam

SEREMBAN, July 22 (Bernama) -- A businessman suffered losses of over RM1 million after falling victim to a non-existent online investment scheme in April.

Nilai police chief Supt Abdul Malik Hasim said the police received a report from the man, in his 50s, at 4.22 pm yesterday at the Pantai police station.

“The victim claimed he had dealings with an individual who offered the scheme on April 29 and was attracted to invest after being promised high returns.

“He was then instructed to download a mobile application called ‘CDT MAX’ before transferring money into seven different bank accounts provided for the investment. A total of 15 transactions were made, amounting to RM1,449,750,” he said in a statement.

Abdul Malik added that the victim realised he had been scammed when he was asked to make additional payments in order to withdraw his so-called investment profits.

He said further investigations are underway to trace the suspect under Section 420 of the Penal Code for cheating.

-- BERNAMA