Engineer loses RM1.5 million to investment scam
Penang police chief Hamzah Ahmad said the victim, who works in the Middle East, made the investment after getting to know a woman through the phone. (Bernama pic)
BUKIT MERTAJAM : An engineer working in the Middle East lost over RM1.5 million to an online investment scam recently.
Penang police chief Hamzah Ahmad said the victim, 40, got to know a woman through the phone in November last year and had a relationship with her.
'The woman invited him to join an investment scheme called Golden Crimson that offered handsome returns. The man invested RM90,510 and received returns of RM108,611,' said Hamzah.
The man grew confident in the scheme and made 103 transactions with 31 different accounts totalling more than RM1.5 million from December to March and realised he was scammed when he failed to withdraw his profits of RM4.1 million through the app but was asked instead to provide additional capital to be able to withdraw.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
an hour ago
- Free Malaysia Today
3 dead, including young child, after boat capsizes in Klang
Screenshot from a video that showed the capsized boat being towed to shore in Tanjong Harapan. PETALING JAYA : Three people, including a young child, were reported to have died in a boating accident in the waters near Tanjung Harapan, in Klang, Selangor, yesterday. According to an official from the Selangor Malaysian Maritime Enforcement Agency (MMEA), the victims were aged three to 50. Selangor MMEA director Abdul Muhaimin Salleh said in the 5pm incident, the boat carrying six passengers was believed to have lost control before it capsized. He added that a fishing vessel came to the rescue of the people on board but its crew only managed to save one person, with two more passengers still missing as of this morning. Muhaimin said the search for the two missing passengers is ongoing with fire and rescue personnel conducting diving operations, Bernama reported. He said the missing victims were identified as Gan Hon Tat, 32, and his wife, Careen Man, 29, both from Klang Utama, and that the three-year-old boy who died was their son, Darren. 'The other deceased victims were Cheu Son Hin, 50, and Fong Yong Sen, 29, a friend of the couple,' he said in a statement here today. 'The sole survivor is Alvin Chang, 17.' A video of the capsized boat being towed to the shore has since been widely circulated on social media.
Malay Mail
2 hours ago
- Malay Mail
Ringgit eyes stability next week as markets await US CPI, PPI
KUALA LUMPUR, June 7 — The ringgit is likely to trade around RM4.22 to RM4.23 next week, said an analyst. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said that next week multiple United States (US) economic data will be out, namely the US Consumer Price Index (CPI) and Producer Price Index (PPI) for the month of May which plays a key role in shaping the market. 'While the data might show deceleration in inflation rate, the US Federal Reserve is likely to stay cautious as it is wary about the potential inflationary pressures arising from the tariff shocks. 'Already, responses from the US Institute for Supply Management (ISM) Index survey indicated that businesses have become more pessimistic as the higher tariffs have affected the supply chains and resulted in higher operating costs,' he told Bernama. The ringgit ended the week higher against the US dollar, closing at 4.2270/2360 on Friday from 4.2530/2605 a week earlier. The local note traded mostly higher against a basket of major currencies. The ringgit rose vis-à-vis the Japanese yen to 2.9324/9390 from 2.9531/9585 and inched higher against the British pound to 5.7212/7334 from 5.7284/7385 a week earlier. However, it depreciated versus the euro to 4.8268/8371 at Friday's close from 4.8169/8254 at the end of last week. The ringgit traded mostly higher against Asean currencies. The local note improved against the Singapore dollar to 3.2862/2934 on Friday from 3.2938/3002 the previous week, edged higher versus the Indonesian rupiah to 259.5/260.2 from 260.4/261.1 and stronger vis-a-vis the Philippine peso to 7.58/7.60 from 7.62/7.64 a week before, However, it weakened versus the Thai baht to 12.9599/9947 from 12.9507/9790 last week. — Bernama
Malay Mail
2 hours ago
- Malay Mail
Middle East-based engineer loses RM1.5m in online investment scheme, discovers scam only after failed withdrawal attempt
BUKIT MERTAJAM, June 7 — An engineer working in the Middle East lost over RM1.5 million to an online investment scam recently. Penang police chief Datuk Hamzah Ahmad sad the victim, 40, lodged a report with the Central Seberang Perai district police headquarters commercial crimes investigation division yesterday. 'In November last year the man got to know a woman through the phone and had a relationship before the woman invited him to join an investment scheme called GoldenCrimson that offered handsome returns. 'The man was interested to invest and was given a customer service number and a website link to register, and he invested RM90,510 and received returns of RM108,611,' he said in a statement tonight. The man grew confident in the scheme and made 103 transactions to 31 different accounts totalling RM1,532,563 from Dec 2 to March 8, and realised he was scammed when he failed to withdraw RM4,131,671 through the app but was asked instead to provide additional capital to be able to withdraw his profits. The case is being investigated under Section 420 of the Penal Code. — Bernama
