Unemployed man loses RM267,888 to stock scam found on Facebook
Johor Baru (South) police chief Assistant Commissioner Raub Selamat said the victim lodged a police report yesterday after he realised he had been cheated by a scammer posing as an investment agent.
The victim claimed he responded to an investment advertisement on Facebook and was contacted on WhatsApp by a person who said she was an investment agent.
The victim was persuaded to download a trading app and was instructed to deal with another man on transactions.
Between July 4 and 17, the victim made nine online money transfers totalling RM267,888 to a company account.
"The suspect kept urging the victim to invest more, even when he asked to withdraw his returns," Raub said today.
After multiple failed attempts to withdraw his investment, both agents cut off all contact and locked him out of the platform.
The case is being investigated under Section 420 of the Penal Code for cheating, which carries a jail term of up to 10 years, whipping and a fine upon conviction.
Raub advised people not to fall for get-rich-quick promises, especially those promoted on social media platforms.
"Always verify company backgrounds, never share personal information and avoid downloading suspicious apps."
Channel information on scams to the National Scam Response Centre at 997 and check the Semak Mule portal at semakmule.rmp.gov.my before you invest.
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