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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.
The Star
26-05-2025
- The Star
Retiree loses over RM300,000 to fake investment scheme
KULAI: A retiree lost RM340,000 in a fake scheme promising 30% returns. Kulai OCPD Asst Comm Tan Seng Lee said the 59-year-old, who previously worked in a private company, was tempted by the high returns. The retiree believed he could gain 20% to 30% on his investment within three days. He was instructed to download an app called XC Global to allegedly track his funds, said ACP Tan on Monday (May 26). The retiree deposited RM340k into 13 local bank accounts through 19 transactions, thinking he was investing his savings. The transactions occurred from March 5 to May 21, he added and said that the app indicated earnings of RM936,971.34, but when he attempted to withdraw funds, he was asked for another RM92k. When his account was frozen, he realised he had been scammed, said ACP Tan, adding that the report was filed on Sunday (May 25). ACP Tan reminded the public not to trust schemes promising quick, high returns. He said people can stay informed about scams via the police force's Facebook page. The case is under investigation for cheating under Section 420 of the Penal Code, which includes up to 10 years' imprisonment, caning, and a fine.
The Star
23-05-2025
- The Star
Motorcyclist killed, pillion rider hurt in crash on NSE near Kulai
KULAI: A motorcyclist died on the spot after hitting a stalled pickup truck on the emergency lane at KM29 of the North-South Expressway (NSE) southbound near here. The 31-year-old man was riding the bike with a pillion rider, a 31-year-old woman, when the incident occurred at 8am on Thursday (May 22), police said. 'The driver of the pickup, also 31, is believed to have pulled over to the emergency lane because of engine trouble," Kulai OCPD Asst Comm Tan Seng Lee said on Friday (May 23). He said the victim failed to avoid the stalled vehicle and hit its rear. Both the motorcyclist and pillion rider sustained head injuries, he added. ACP Tan said the victim was pronounced dead at the scene while the pillion rider was taken to Hospital Sultanah Aminah in Johor Baru. 'The body of the deceased was sent to Hospital Kulai for a post-mortem," he said, adding that the case is being investigated under Section 4(1) of the Road Transport Act 1987. Anyone with information on the case is urged to contact investigating officer Insp Ahmad Safuan Abu Naim at 019-7573507 or go to the Kulai district police headquarters' traffic division. Follow us on our official WhatsApp channel for breaking news alerts and key updates!
New Straits Times
21-05-2025
- New Straits Times
Retired employee scammed of RM431,000 with fake investment promises
KULAI: A retired private sector employee became RM431,000 poorer after falling victim to a scam involving a non-existent investment scheme. Kulai district police chief Assistant Commissioner Tan Seng Lee said that, according to a report lodged by the 67-year-old victim yesterday, he was duped by the investment syndicate after being promised returns of between 20 and 30 per cent within three days. "The victim said he was told by the suspects that the profits would be credited into his investment application account. "The victim then made 32 payment transactions totalling RM431,000 into seven local bank accounts from March 17 to April 15. "After making the payments, the victim checked the application and found the profits had reached RM3 million," he said in a statement today. Tan added that when the victim tried to withdraw the profits, he was asked to make an additional investment of RM30,000. "The victim, who failed to withdraw his investment, began to suspect he was being scammed and reported the matter to the police," he said. The case is being investigated under Section 420 of the Penal Code for cheating.
