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Hardware Company Director Loses Over RM800,000 To Online Investment Scam
Hardware Company Director Loses Over RM800,000 To Online Investment Scam

Barnama

time2 days ago

  • Business
  • Barnama

Hardware Company Director Loses Over RM800,000 To Online Investment Scam

KLUANG, July 13 (Bernama) -- A trader and director of a hardware company lost RM829,705 after falling victim to an online investment scam. Kluang police chief ACP Bahrin Mohd Noh said the 56-year-old man came across an investment advertisement promising high returns on social media in March. After contacting the so-called investment 'agent', the victim was instructed to download an app called 'PHV View' to participate. 'Between June 5 and July 9, he transferred RM829,705 in stages to five different bank accounts for the supposed return of RM4,669,065.25 shown on the app,' he said in a statement today. However, the man was then told he had to make further payments to withdraw the profits. Realising he had been scammed, the victim lodged a police report on July 10 at the Kluang Police Station. The case is being investigated under Section 420 of the Penal Code for cheating. -- BERNAMA

Company director loses over RM800,000 in online investment scam
Company director loses over RM800,000 in online investment scam

New Straits Times

time2 days ago

  • Business
  • New Straits Times

Company director loses over RM800,000 in online investment scam

KLUANG: A hardware shop company director lost more than RM800,000 after falling victim to a non-existent online investment scam promising lucrative returns. The 56-year-old man became involved in the scheme in March after seeing a social media advertisement for an investment opportunity. Kluang district police chief Assistant Commissioner Bahrin Mohd Noh said the victim, who was drawn in by the ad, was instructed to download an investment application. He then made a series of payments amounting to RM829,705 into five different bank accounts between June 5 and July 9. "The victim later saw a purported profit of RM4.66 million displayed on the application, but was told he needed to make further payments in order to withdraw the funds," he said in a statement. However, the victim refused to pay and realised he had been scammed when the promised returns never materialised. He lodged a report at the Kluang district police headquarters last Thursday. The case is being investigated under Section 420 of the Penal Code for cheating.

Kluang trader loses RM829k to online investment scam
Kluang trader loses RM829k to online investment scam

The Sun

time2 days ago

  • Business
  • The Sun

Kluang trader loses RM829k to online investment scam

KLUANG: A 56-year-old hardware company director lost RM829,705 after falling victim to an online investment scam. The victim, a trader, encountered an advertisement on social media in March promising lucrative returns. Kluang police chief ACP Bahrin Mohd Noh stated that the victim was instructed to download an app called 'PHV View' after contacting an investment agent. Between June 5 and July 9, the man transferred RM829,705 in stages to five different bank accounts, believing he would receive RM4,669,065.25 as shown on the app. When the victim attempted to withdraw the profits, he was told to make additional payments. Realising the deception, he filed a police report on July 10 at the Kluang Police Station. The case is being investigated under Section 420 of the Penal Code for cheating. - Bernama

Company director loses over RM800,000 to investment scam
Company director loses over RM800,000 to investment scam

The Star

time2 days ago

  • Business
  • The Star

Company director loses over RM800,000 to investment scam

KLUANG: A trader and director of a hardware company lost RM829,705 after falling victim to an online investment scam. Kluang police chief ACP Bahrin Mohd Noh said the 56-year-old man came across an investment advertisement promising high returns on social media in March. After contacting the so-called investment 'agent', the victim was instructed to download an app called 'PHV View' to participate. "Between June 5 and July 9, he transferred RM829,705 in stages to five different bank accounts for the supposed return of RM4,669,065.25 shown on the app,' he said in a statement on Sunday (July 13). However, the man was then told he had to make further payments to withdraw the profits. Realising he had been scammed, the victim lodged a police report on July 10 at the Kluang Police Station. The case is being investigated under Section 420 of the Penal Code for cheating. - Bernama

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