Company director loses over RM800,000 in online investment scam
The 56-year-old man became involved in the scheme in March after seeing a social media advertisement for an investment opportunity.
Kluang district police chief Assistant Commissioner Bahrin Mohd Noh said the victim, who was drawn in by the ad, was instructed to download an investment application.
He then made a series of payments amounting to RM829,705 into five different bank accounts between June 5 and July 9.
"The victim later saw a purported profit of RM4.66 million displayed on the application, but was told he needed to make further payments in order to withdraw the funds," he said in a statement.
However, the victim refused to pay and realised he had been scammed when the promised returns never materialised.
He lodged a report at the Kluang district police headquarters last Thursday.
The case is being investigated under Section 420 of the Penal Code for cheating.
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