Kindergarten Owner Loses RM1.3 Mln In Online Share Scam

JOHOR BAHRU, Nov 28 (Bernama) -- A private kindergarten owner has lost RM1.3 million after falling victim to a fake online share investment, Johor police chief CP Datuk Ab Rahman Arsad said today.

In a statement, he said the 42-year-old woman saw a social media advertisement in September promising high returns and contacted the suspect for more details.

“She was promised profits of up to 41 per cent and made transactions into several bank accounts between Nov 6 and 21,” he said, adding that the suspect continued to pressure her to deposit more funds supposedly to withdraw the profit.

“When the promised returns did not materialise, the victim realised she had been scammed and lodged a police report at the Batu Pahat district police headquarters (IPD),” he added.

The case is being investigated under Section 420 of the Penal Code for cheating, which carries a jail term of one to 10 years, whipping and a possible fine.

Ab Rahman urged the public to be cautious and avoid online investment schemes promising high and unrealistic returns, especially those advertised on social media.

-- BERNAMA