Elderly man loses RM1.47m to online trading scam
IPOH: An elderly man suffered losses of over RM1.47 million after he fell victim to an online trading scam, Perak police chief Datuk Noor Hisam Nordin said.
The man, 75, who is a company director, lodged a police report in Ipoh on May 25 about the scam that began on April 15, when he received a phone call from an unidentified woman offering him to be a partner of a company trading with another company abroad, he said.
The victim agreed to become a partner after he checked the company's status and found it was operating since 1989, and was then asked to download an app called SHV Shop.
'If a customer wished to purchase an item, the victim only had to pay the selected price and would get a commission of 30 per cent,' he said in a statement last night.
The victim then paid a deposit of RM22,122 via a cash deposit machine to a Maybank account of a company.
'Thinking about his would-be profits, the victim deposited a total of RM1,470,734 from April 17 to May 16 into six different bank accounts through online transfers and bank counters,' he said, adding that the victim did not receive any returns and felt that he was scammed.
The case is being investigated under Section 420 of the Penal Code.
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