Former Singapore worker loses RM500,000 to investment scam promoted on Facebook
The victim, a former warehouse assistant supervisor in Singapore, said he saw a Facebook advertisement promoting stock investments on March 21.
He was then contacted by a woman who introduced herself as "Liane".
Penang deputy police chief Datuk Mohd Alwi Zainal Abidin said the suspect persuaded the victim to invest through an application called "Silver Peak CP", which was said to offer high returns within a short period.
"Swayed by the promise of lucrative profits, the victim downloaded the app and began investing.
"Between March 22 and June 24, he made 22 transactions totalling RM500,000 into six bank accounts provided by the suspect.
"However, after completing the payments, the victim was unable to access any of the purported returns," he said today.
Realising that he had been scammed, the victim lodged a report in Sungai Bakap on July 11.
The case is being investigated under Section 420 of the Penal Code for cheating.
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