Latest news with #RM169
New Straits Times
7 days ago
- Business
- New Straits Times
Engineer loses RM169,500 in bogus investment scheme
KULAI: A 30-year-old engineer was duped into investing RM169,500 in a bogus stock scheme that promised up to 20 per cent returns in just a week. The man lodged a police report yesterday after attempts to withdraw his so-called profits of RM422,662.34 were futile. District police chief Assistant Commissioner Tan Seng Lee said the victim, who was drawn by the promise of quick gains, made 11 cash transfers amounting to RM169,500 into a bank account between April 3 and May 22. The funds were supposedly channelled into an investment platform application. "However, when he attempted to cash out the displayed "returns", the withdrawal failed. Instead, the syndicate demanded a further RM80,000 in fees before any payout could be made, which triggered the victim's suspicion. Tan said the case is probed under Section 420 of the Penal Code for cheating. "The public must remain vigilant and avoid falling for investment schemes that offer unusually high returns within a short period," Tan warned in a statement today.
The Star
7 days ago
- The Star
Johor engineer cheated of RM160,000 in non-existent investment scheme
KULAI: An engineer has fallen victim to a fraudulent investment scheme, losing more than RM160,000 of his savings to a syndicate promoting a non-existent stock trading platform that promised lucrative returns. Kulai OCPD Asst Comm Tan Seng Lee said the 30-year-old male victim lodged a police report on Tuesday (May 27) after realising he had been duped. 'The victim was lured by a scheme that promised returns of between 8% and 20% within just seven days. The suspect claimed that profits from the investment would be credited into the victim's account via an app called P3-DMA,' he said here on Wednesday (May 28). ACP Tan added the victim, enticed by the potential gains, then proceeded to make 11 transactions between April 3 and May 22 this year, transferring a total of RM169,500 into a local bank account believed to be linked to the syndicate. He said the victim later checked his P3-DMA account and saw a balance showing an alleged return of more than RM422,000. 'When he tried to withdraw the so-called profits, the suspect demanded an additional payment of RM80,000 in order to process the withdrawal. 'It was at this point the victim suspected he had been scammed and came forward to file a report,' he said, adding that the case was being investigated under Section 420 of the Penal Code. ACP Tan urged the public to exercise caution when offered investment opportunities that promise unrealistically high returns in a short period of time. 'We advise the public to verify the legitimacy of investment schemes and use official online services provided by the police commercial crime investigation department, such as the National Scam Response Centre (NSRC), CCID Infoline, and Semak Mule. 'Information on the latest scams is also regularly updated on the official Royal Malaysia Police Facebook page,' he added.
Borneo Post
25-05-2025
- Business
- Borneo Post
Lions Charity Bazaar to raise funds for charitable initiatives
Connie (third right), Alyssa (second left), Chris (third left) and Cynthia (right) with the Lions Charity Bazaar 3.0 team. KOTA KINABALU (May 25): Lions Club International will be holding its Lions Charity Bazaar 3.0 at Kian Kok Middle School here on October 12, from 7am to 5pm, to raise funds for various charitable initiatives. This major fundraising event brings together 16 Lions Clubs from across Sabah in a united effort to support Lions Clubs International's 8 Global Causes. Organising chairperson Connie Ting said it will offer a full day of family-friendly fun with food and drink stalls, live entertainment and engaging activities for all ages, designed to be a meaningful family outing day blending enjoyment with charity. Connie said they hope to record around 3,000 visitors at the event, which will feature more activities for children and around 20 percent more booths and products as well as a musical festival, compared to last year's Bazaar 2.0. She added that some of the proceeds from the fundraiser will go towards their sponsporing of computers for the Kian Kok Middle School students. 'The goal is to raise RM200,000, with all net gross proceeds channeled toward Lions' global service areas: Vision, hunger, environment, diabetes, childhood cancer, humanitarian relief, youth empowerment and a rural medical camp. 'We warmly invite non-governmental organisations and youth organisations to take part by setting up booths to showcase their causes. 'Companies are encouraged to support the event through sponsorships, with various sponsorship tiers offering promotional opportunities. 'Vendors are welcome to join the bazaar and benefit from a large public turnout,' she told a press conference near Hilltop here today. The public can support the cause by purchasing charity coupons priced at RM50 and RM100, which can be used to enjoy food, games and activities throughout the day. The participating Lions Clubs are Api Api, Keningau Downtown, Kota Kinabalu Asia City, Kota Kinabalu Capital, Kota Kinabalu Central, Kota Kinabalu Centennial, Kota Kinabalu City, Kota Kinabalu Downtown, Kota Kinabalu Lintas, Kota Kinabalu Mandarin, Kota Kinabalu Vintage, New Century Kota Kinabalu Star City, Labuan Mandarin, Luyang (Ace), Penampang Host, Ranau, Sabah EverGreen and Tanjung Aru. For booth registration, sponsorships or coupons, please contact Connie at 017-8210989. Meanwhile, Connie also informed that last year's Bazaar 2.0, organised by Lions Clubs International District 308-A2, had successfully raised RM169,365 in net funds. With 65 participating vendors and overwhelming support from the public, the event empowered over 10,000 individuals throughout Sabah, delivering meaningful impact through more than 37 service projects by May 2025. A total of RM101,384 was channeled into global cause-based programs, while RM67,980 was distributed to local Lions clubs to fund targeted community projects. Among the standout healthcare efforts include the donation of three Desferal machines worth RM7,500 to Sabah Women and Children's Hospital to assist in treating thalassemia patients, and the funding of len implants for 115 cataract patients across multiple districts. Other charitable causes made possible from last year's bazaar proceeds include a medical outreach camp for 110 stateless children in Kampung Likas, and the establishment of a rural resource centre in Nabawan to provide access to educational materials and support for 70 schoolchildren. Also present at the press conference were Lions Club of Api-Api charter president cum Bazaar 3.0 deputy organising chairperson Chris Liew; second vice district governor elect cum Bazaar 2.0 project coordinator Alyssa Lim; and Lions Club of Tanjung Aru president elect cum Bazaar 3.0 secretary Cynthia Chung.
