30-07-2025
- Business
- Free Malaysia Today
Woman doctor loses RM8.7mil savings in investment scam
Police said the victim was offered returns of up to 520% on her investment.
PETALING JAYA : A 53-year-old doctor lost her savings of RM8.7 million after falling victim to an online investment scam promising high returns from stock trading.
Johor Bahru Selatan deputy police chief Azrul Hisham Shaffei said the victim had come across an advertisement on social media in April and was lured by promises of lucrative profits.
He said the woman began corresponding with a person shown in the advertisement to obtain more details, and was eventually offered returns of up to 520% on her investment.
'Convinced by the promised profits, the victim made payments amounting to RM8.7 million into several bank accounts as instructed between May and July,' Bernama reported him as saying.
However, despite the large sum invested, she was later informed she had earned only RM6,033 in returns, and was coerced into paying an additional RM500,000 as a 'deposit' to withdraw her funds.
She was also warned that her investment account would be frozen if she did not pay up, prompting her to realise that she had been duped.
She lodged a police report yesterday.
The case is being investigated under Section 420 of the Penal Code for cheating.
