Man Loses RM380,000 To Online Investment Scam

KOTA TINGGI, Oct 22 (Bernama) -- A man lost RM380,000 in an online investment scam recently, Kota Tinggi district police chief Supt Yusof Othman said.

The man, 51, was approached by an individual he just knew on Whatsapp who promised him up to 50 per cent returns on investments within a week, he added.

“The victim made eight transactions into two seperate accounts to invest from Oct 10 to 15 totalling RM380,000.

“But when the victim contacted the suspect yesterday (Oct 22) to ask for his returns, the suspect did not give it to him but asked the victim to add to his investment,” he said in a statement today.

The victim realised he had been scammed and lodged a police report today, he said, adding that the case is being investigated under Section 420 of the Penal Code for fraud.

-- BERNAMA