Latest news with #Section424
The Sun
19-07-2025
- The Sun
Elderly e-hailing driver loses RM301,300 in online investment scam
JOHOR BAHRU: An elderly e-hailing driver lost RM301,300 after falling victim to an online scheme that promised quick and lucrative returns through investments in foreign stocks. Seri Alam police chief Supt Mohd Sohaimi Ishak said the 67-year-old victim was first introduced to the fraudulent scheme in April by a woman he had just met. 'Believing the woman's promises, the victim made 11 transfers to four different bank accounts, amounting to RM301,300,' he said in a statement. However, he never received any returns. Instead, he was repeatedly asked to make additional payments, supposedly to facilitate the release of his profits. Realising he had been scammed when he could no longer reach the woman and failed to recover his investment, the victim lodged a police report on Monday. Mohd Sohaimi said preliminary checks using the Semak Mule platform by the Commercial Crime Investigation Department revealed that three of the bank accounts involved had been flagged in 27 previous police reports linked to investment scams. The case is being investigated under Section 420 of the Penal Code for cheating, which carries a maximum sentence of 10 years' imprisonment, caning and a fine upon conviction. He added that investigators are also looking into the existence of mule accounts under Section 424 of the Penal Code, which covers the use of accounts or payment instruments for criminal purposes. 'Upon conviction under Section 424, offenders face a fine of between RM10,000 and RM150,000 or imprisonment of three to 10 years,' he said. He advised the public to be wary of online investment schemes promising quick and high returns, especially those that appear overly easy or risk-free. 'The public is also urged to verify any investment opportunity with relevant authorities such as the Royal Malaysia Police, Bank Negara Malaysia, or the Securities Commission to ensure its legitimacy,' he added. - Bernama
The Star
19-07-2025
- The Star
E-hailing driver loses RM300,000 to investment scam
JOHOR BARU: An e-hailing driver lost over RM300,000 after being duped into a non-existent investment scheme introduced by a woman he had just met. Seri Alam OCPD Asst Comm Mohd Sohaimi Ishak said the woman introduced the 67-year-old victim to the alleged international share investment scheme in April of this year. "The friend promised him lucrative returns within a short period of time. Believing the offer, the victim made 11 transactions totalling RM301,300 to four different bank accounts. "The victim started to have doubts when he did not receive any profits and was asked to make further payments to supposedly withdraw his returns," he said in a statement on Saturday (July 19). Realising he had been cheated, the victim lodged a police report at the Seri Alam district police headquarters on July 14 after failing to retrieve his money or contact the woman. ACP Mohd Sohaimi said initial checks through the Commercial Crimes Investigation Department (CCID)'s Semak Mule platform found that three of the accounts used in the scam had a total of 27 previous police reports lodged against them, all linked to investment fraud. He added that the case is being investigated under Section 420 of the Penal Code for cheating, which carries a jail term of one to 10 years, whipping, and a fine upon conviction. The investigation will also cover mule account involvement under Section 424 of the Penal Code, he said, adding that those convicted could face a fine between RM10,000 and RM150,000, or a jail term of three to 10 years. ACP Mohd Sohaimi advised the public to be wary of online scams and not to fall for investment schemes that promise fast and high returns with little effort. He urged the public to verify such schemes with authorities including the police, Bank Negara Malaysia, and the Securities Commission. He also reminded the public to use online services provided such as the National Scam Response Centre (NSRC), CCID Infoline, Semak Mule, and the JSJK PDRM Facebook page for information on commercial crime before making any payment to others. The NSRC – which is now under the Bukit Aman CCID - is reachable via its hotline 997.
Barnama
19-07-2025
- Barnama
Elderly E-Hailing Driver Loses RM301,300 To Online Investment Scam
JOHOR BAHRU, July 19 (Bernama) -- An elderly e-hailing driver lost RM301,300 after falling victim to an online scheme that promised quick and lucrative returns through investments in foreign stocks. Seri Alam police chief Supt Mohd Sohaimi Ishak said the 67-year-old victim was first introduced to the fraudulent scheme in April by a woman he had just met. 'Believing the woman's promises, the victim made 11 transfers to four different bank accounts, amounting to RM301,300,' he said in a statement. However, he never received any returns. Instead, he was repeatedly asked to make additional payments, supposedly to facilitate the release of his profits. Realising he had been scammed when he could no longer reach the woman and failed to recover his investment, the victim lodged a police report on Monday. Mohd Sohaimi said preliminary checks using the Semak Mule platform by the Commercial Crime Investigation Department revealed that three of the bank accounts involved had been flagged in 27 previous police reports linked to investment scams. The case is being investigated under Section 420 of the Penal Code for cheating, which carries a maximum sentence of 10 years' imprisonment, caning and a fine upon conviction. He added that investigators are also looking into the existence of mule accounts under Section 424 of the Penal Code, which covers the use of accounts or payment instruments for criminal purposes. 'Upon conviction under Section 424, offenders face a fine of between RM10,000 and RM150,000 or imprisonment of three to 10 years,' he said.
New Straits Times
23-06-2025
- New Straits Times
Wanted man hauled to court for 2016 concealment offence
KUALA LUMPUR: A spare parts salesman who had been on the police wanted list was brought before the Sessions Court today to face a charge related to an offence dating back to 2016. Mah Kian Dong, 38, claimed trial to a charge of concealing RM104,000 in cash belonging to a businessman, Soh Chin Huat, 53. The amount was allegedly deposited into a bank account registered under Mah's name. Mah is accused of committing the offence at a bank in Sri Petaling on July 4, 2016. He was charged under Section 424 of the Penal Code, which carries a maximum jail term of five years, a fine, or both, upon conviction. Deputy public prosecutor M. Saravanan requested that the court set bail at RM30,000 with one surety and fix a date for mention. Mah, who represented himself as he did not have legal counsel, appealed for a lower bail amount, citing financial hardship. "I am unmarried and live in Ipoh with my mother. I earn RM2,000 a month and cannot afford the proposed bail sum. "My employer is here today to help post bail. I kindly request the court's assistance in reducing the amount," he said. Judge Azrul Darus set bail at RM10,000 with one surety and fixed July 23 for the submission of documents and the appointment of counsel.
New Straits Times
06-06-2025
- New Straits Times
Man jailed for concealing over RM480,000 in Facebook investment scam proceeds
KUALA LUMPUR: A man was sentenced to one year imprisonment by the Sessions Court today after pleading guilty to transferring and concealing RM487,790 belonging to two women in connection with a fraudulent investment scheme advertised on Facebook last year. Judge Azrul Darus sentenced Marchell Jeff Lee Sin Ket, 39, to one year in prison for assisting in concealing RM314,790 belonging to Ong Boon Ian, 59, an investment company owner, in his bank account at a condominium unit in Bandar Menjalara, Sentul, between Nov 18 and Dec 12 last year. Separately, before Judge Hamidah Mohamed Deril, he was sentenced to eight months imprisonment for concealing RM173,000 belonging to Chin Lit Teng, 49, a health products company account executive, in his bank account at a condominium unit off Jalan Kuching, Taman Sri Kuching, Sentul, between Nov 7 and Dec 9 last year. He was charged under Section 424 of the Penal Code, which carries a maximum sentence of five years imprisonment, a fine, or both upon conviction. Both sentences are to run concurrently from yesterday. According to the statement of facts, the victim had come across a stock investment advertisement while browsing Facebook and proceeded to register for the purported investment scheme. Subsequently, the victim transferred funds in stages into a bank account under the name Marchell Jeff Interior Design Haus Sdn Bhd. The scheme was later discovered to be fraudulent when the promised returns failed to materialise.
