Tag: Online Investment Scam

Assistant Manager Loses RM163,500 To Online Investment Scam

NILAI, May 20 -- An assistant manager at a private company lost RM163,500 after allegedly falling victim to a non-existent stock investment scheme promoted on social media in March. Nilai police chief Supt Johari Yahya said the local woman, in her early 40s, lodged a police report at 6.33 pm yesterday after realising she was duped by the syndicate. He said the victim, who lives in Kajang, told police she had been dealing with an unknown individual on Facebook who offered a stock investment scheme promising lucrative returns. The victim was instructed to download an application known as 'AB Limited' onto her mobile phone before making several fund transfers to bank accounts provided by the suspect. "She realised she had been scammed after repeated attempts to withdraw the purported profits through the application failed," he said in a statement here today. Johari said the case is being investigated under Section 420 of the Penal Code for cheating and efforts are underway to trace the suspect. He advised the public to verify investment offers with the relevant authorities before participating in any scheme and to refrain from sharing banking information with unknown individuals. -- BERNAMA

NILAI, May 20 — An assistant manager at a private company lost RM163,500 after allegedly falling victim to a non-existent stock investment scheme promoted on social media in March. Nilai police chief Supt Johari Yahya said the local woman, in her early 40s, lodged a police report at 6.33 pm yesterday after realising she was […]