04-05-2025
Retiree loses over RM580,000 to fraudulent investment scheme
File photo for illustration purposes
MIRI (May 4): A retiree here lost over half a million ringgit of his life savings to a non-existent investment scheme involving a fraudulent platform.
Miri police chief ACP Mohd Farhan Lee Abdullah said the 50-something victim, who filed a police report on May 2, claimed he was contacted on WhatsApp by an unknown person who offered the victim a chance to join the 'EVR Investment Academy'.
'The victim was then invited to join a group and attend a five-day daily stock market briefing from 8am to 9pm via Zoom calls.
'He was asked to download the 'OC Secure' platform which was purported to be a DMA (direct market access) account with advantages in stock trading, and deceived into investing in a fake AI investment scheme known as QTI Luxaigo, which resulted in substantial financial loss,' he said in a statement.
Mohd Farhan said the victim, who reported a total loss of RM586,450, realised he had been scammed when checks found no record of his investment in the platform.
The case, he added, in being investigated under Section 420 of the Penal Code for cheating.
Mohd Farhan advised the public to always remain vigilant and never disclose or give out any financial information to unknown callers.
'Be cautious and take precautionary steps when engaging in online dealings, especially if the caller claims to be a friend, acquaintance, delivery agent, law enforcement officer, or court personnel.
'Always verify and confirm with the relevant parties when in doubt,' he said. crime lead life savings Mohd Farhan Lee Abdullah scam
