Doctor's life savings wiped out in RM8.7mil investment fraud
The woman lodged a police report yesterday after her attempts to withdraw the so-called profits proved futile.
She had been enticed by a flashy investment advertisement on social media in April this year. Drawn in by the promise of lucrative gains, she contacted the syndicate behind the advertisement and was gradually persuaded to transfer the substantial sum into multiple bank accounts between May and July.
Johor Baru (South) deputy police chief Superintendent Azrul Hisham Mohd Shaffei said the woman initially received RM6,033 in returns.
However, subsequent attempts to withdraw the remaining "profits" were blocked, with the syndicate making further demands for payment, he said..
"The victim was threatened that her account would be frozen unless she paid an additional RM500,000 in so-called 'deposit' fees," he added.
The case is being investigated under Section 420 of the Penal Code for cheating, which carries a jail term of between one and 10 years, whipping, and a fine upon conviction.
Azrul advised the public to remain cautious and not be swayed by online schemes offering extravagant profits, especially those advertised on social media.
He urged individuals to verify any investment opportunities through official platforms such as the police, Bank Negara Malaysia, or the Securities Commission.
He also encouraged the public to stay up to date with the latest commercial crime tactics via the Commercial Crime Investigation Department's Facebook, Instagram, and TikTok pages.
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