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Elderly man loses RM1.47 million to online trading scam
Elderly man loses RM1.47 million to online trading scam

The Sun

time6 days ago

  • Business
  • The Sun

Elderly man loses RM1.47 million to online trading scam

IPOH: An elderly man suffered losses of over RM1.47 million after he fell victim to an online trading scam, Perak police chief Datuk Noor Hisam Nordin said. The man, 75, who is a company director, lodged a police report in Ipoh on May 25 about the scam that began on April 15, when he received a phone call from an unidentified woman offering him to be a partner of a company trading with another company abroad, he said. The victim agreed to become a partner after he checked the company's status and found it was operating since 1989, and was then asked to download an app called SHV Shop. 'If a customer wished to purchase an item, the victim only had to pay the selected price and would get a commission of 30 per cent,' he said in a statement last night. The victim then paid a deposit of RM22,122 via a cash deposit machine to a Maybank account of a company. 'Thinking about his would-be profits, the victim deposited a total of RM1,470,734 from April 17 to May 16 into six different bank accounts through online transfers and bank counters,' he said, adding that the victim did not receive any returns and felt that he was scammed. The case is being investigated under Section 420 of the Penal Code.

Elderly man loses RM1.47m to online trading scam
Elderly man loses RM1.47m to online trading scam

The Sun

time6 days ago

  • Business
  • The Sun

Elderly man loses RM1.47m to online trading scam

IPOH: An elderly man suffered losses of over RM1.47 million after he fell victim to an online trading scam, Perak police chief Datuk Noor Hisam Nordin said. The man, 75, who is a company director, lodged a police report in Ipoh on May 25 about the scam that began on April 15, when he received a phone call from an unidentified woman offering him to be a partner of a company trading with another company abroad, he said. The victim agreed to become a partner after he checked the company's status and found it was operating since 1989, and was then asked to download an app called SHV Shop. 'If a customer wished to purchase an item, the victim only had to pay the selected price and would get a commission of 30 per cent,' he said in a statement last night. The victim then paid a deposit of RM22,122 via a cash deposit machine to a Maybank account of a company. 'Thinking about his would-be profits, the victim deposited a total of RM1,470,734 from April 17 to May 16 into six different bank accounts through online transfers and bank counters,' he said, adding that the victim did not receive any returns and felt that he was scammed. The case is being investigated under Section 420 of the Penal Code.

Elderly man loses over RM1.47 million in online trading scam in Ipoh
Elderly man loses over RM1.47 million in online trading scam in Ipoh

Malay Mail

time6 days ago

  • Business
  • Malay Mail

Elderly man loses over RM1.47 million in online trading scam in Ipoh

IPOH, May 28 — An elderly man suffered losses of over RM1.47 million after he fell victim to an online trading scam, Perak police chief Datuk Noor Hisam Nordin said. The man, 75, who is a company director, lodged a police report in Ipoh on May 25 about the scam that began on April 15, when he received a phone call from an unidentified woman offering him to be a partner of a company trading with another company abroad, he said. The victim agreed to become a partner after he checked the company's status and found it was operating since 1989, and was then asked to download an app called SHV Shop. 'If a customer wished to purchase an item, the victim only had to pay the selected price and would get a commission of 30 per cent,' he said in a statement last night. The victim then paid a deposit of RM22,122 via a cash deposit machine to a Maybank account of a company. 'Thinking about his would-be profits, the victim deposited a total of RM1,470,734 from April 17 to May 16 into six different bank accounts through online transfers and bank counters,' he said, adding that the victim did not receive any returns and felt that he was scammed. The case is being investigated under Section 420 of the Penal Code. — Bernama

Elderly company director loses RM1.4mil to online trading scam
Elderly company director loses RM1.4mil to online trading scam

The Star

time7 days ago

  • Business
  • The Star

Elderly company director loses RM1.4mil to online trading scam

IPOH: A 75-year-old company director here lost about RM1.4mil after falling victim to an online trading scam. Perak police chief Comm Datuk Noor Hisam Nordin said the man had on April 15 received a call from an unknown woman offering him to be a business partner who buys products from foreign companies. "Having supposedly checked the status of the company, which he found to be operating since 1989, he agreed to take part. "He was asked to download a mobile app SHV Shop that sells luxurious branded items," Comm Noor Hisam said in a statement on Tuesday (May 27). "If someone wants to buy a product, the man would need to pay for it up front and he would get 30% in commission," he said, adding that his first transaction of about RM22,122 was made through a cash deposit machine to a bank account of said company. "Having received the return, he trusted the company and conducted online and over-the-counter transactions of about RM1.4mil into six different bank accounts. "After the transactions, he stopped receiving any returns and he realised he has been cheated," he added. Comm Noor Hisam said the man lodged a report on Sunday (May 25), with the case to be investigated under Section 420 of the Penal Code for cheating. "The police would like to remind the people to be careful of investment schemes that promise overly-high returns. "Also check trustworthy sources like SemakMule, Bank Negara and Securities Commission to get more information before investing in any schemes," he added.

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