Latest news with #SilverPeakCP
Free Malaysia Today
9 hours ago
- Business
- Free Malaysia Today
53-year-old loses RM500,000 in quick-returns online scam
Police said he was introduced through a Facebook app to an investment called 'Silver Peak CP' that promised quick and high returns. GEORGE TOWN : A man in Sungai Bakap has lost RM500,000 after falling victim to a fake online investment scam that promised high returns in a short time. Penang deputy police chief Alwi Zainal Abidin said the victim, a 53-year-old former warehouse assistant supervisor in Singapore, had come across a Facebook ad promoting stock investments on March 21. He contacted a woman who identified herself as 'Liane' and she introduced him to an investment called 'Silver Peak CP' through a mobile app that promised quick and high returns, Alwi said in a statement. 'Attracted by the offer, the victim downloaded the app and started investing.' Between March 22 and June 24, he paid a total of RM500,000 in 22 deposits into six different bank accounts provided by the woman. 'After that, he could no longer access the app,' Alwi said.
The Sun
a day ago
- Business
- The Sun
Man loses RM500k to fake investment scam in Sungai Bakap
GEORGE TOWN: A man lost RM500,000 after falling victim to a fake online investment scam that promised high returns in a short time in Sungai Bakap here, recently. Penang deputy police chief Datuk Mohd Alwi Zainal Abidin said the 53-year-old, a former warehouse assistant supervisor in Singapore, had come across a Facebook ad promoting stock investments on March 21 and later contacted a woman who identified herself as 'Liane'. 'She introduced him to an investment called 'Silver Peak CP' through a mobile app that promised quick and high returns. Attracted by the offer, the victim downloaded the app and started investing,' he said in a statement today. Between March 22 and June 24, the victim made 22 transactions into six different bank accounts provided by the suspect, totalling RM500,000. After that, he could no longer access the app. Mohd Alwi said police are investigating and working to track down the syndicate. The case is being probed under Section 420 of the Penal Code for cheating. - Bernama
New Straits Times
a day ago
- New Straits Times
Former Singapore worker loses RM500,000 to investment scam promoted on Facebook
GEORGE TOWN: Penang police are investigating a fraudulent investment scheme after a 53-year-old man lost RM500,000. The victim, a former warehouse assistant supervisor in Singapore, said he saw a Facebook advertisement promoting stock investments on March 21. He was then contacted by a woman who introduced herself as "Liane". Penang deputy police chief Datuk Mohd Alwi Zainal Abidin said the suspect persuaded the victim to invest through an application called "Silver Peak CP", which was said to offer high returns within a short period. "Swayed by the promise of lucrative profits, the victim downloaded the app and began investing. "Between March 22 and June 24, he made 22 transactions totalling RM500,000 into six bank accounts provided by the suspect. "However, after completing the payments, the victim was unable to access any of the purported returns," he said today. Realising that he had been scammed, the victim lodged a report in Sungai Bakap on July 11. The case is being investigated under Section 420 of the Penal Code for cheating.
New Straits Times
10-05-2025
- New Straits Times
Scam app promised RM11mil windfall, retiree ends up RM680k poorer
GEORGE TOWN: A 60-year-old retiree from the private sector has fallen victim to an online investment scam involving a platform known as Silver Peak Capital, resulting in losses amounting to RM680,000. The victim has lodged a police report, and the case is being investigated under Section 420 of the Penal Code for cheating. State police chief Datuk Hamzah Ahmad said the woman claimed in her report that she first encountered an investment advertisement related to stock trading via the Facebook app in early February. She subsequently began communicating with a suspect via WhatsApp. "The investment scheme promised returns of between 10 and 20 per cent of the invested capital within a short period," Hamzah said in a statement today. "Keen to take part, the victim was instructed to download an app called Silver Peak CP, register as a member, and begin investing. "She then proceeded to make seven fund transfers to five different bank accounts. The victim only realised she had been scammed when she ran out of funds and was told she needed to pay a commission fee to withdraw an alleged profit of RM11 million, as displayed on the Silver Peak CP app." Following this, she filed a police report to initiate an investigation. In a separate case reported yesterday, a 60-year-old private sector clerk lost RM685,000 in a similar scam involving an app called Q Toff. The scam was uncovered when the victim attempted to withdraw RM1.4 million in supposed profits, only to be told she needed to pay 10 per cent of the earnings before any funds could be released — prompting her to realise she had been conned.
