Latest news with #onlineinvestment
Malay Mail
3 days ago
- Business
- Malay Mail
Retired engineer in Sibu loses over RM224,000 to online investment scam
SIBU, May 28 — A retired private-sector engineer from here lost RM224,403 in a month after falling victim to an online investment scam that falsely promised lucrative returns of up to RM750,000. Sibu police chief ACP Zulkipli Suhaili said the victim, a man in his 60s, only realised he had been scammed when he was asked to pay an additional RM100,700 as 'tax' to withdraw the supposed investment profits, which did not exist. He said the victim was initially drawn to the so-called investment offer, promoted as the 'Investment Stock Market' by a company named KKR Investment on Instagram on April 9. Later, he received further explanation via WhatsApp from someone claiming to be a company representative. 'If the victim agreed, he was required to download the KKR Investment app for registration purposes. He was also informed that all accumulated profits could be viewed through the app,' he said in a statement yesterday Between April 9 and May 7, the victim made 11 money transfers totalling RM224,403 to four different local bank accounts. He then contacted the representative again when the investment app showed his profits had reached RM750,000. Zulkipli said that when the victim was asked to make an additional payment of RM100,700 as a tax to withdraw the funds, he began to suspect he was being scammed and subsequently filed a police report in Sibu on Tuesday. The case is being investigated under Section 420 of the Penal Code for cheating. Zulkipli advised the public to exercise caution and not be easily tempted by offers of high returns through online investment schemes. — Bernama
Malay Mail
22-05-2025
- Business
- Malay Mail
Sibu housewife duped of nearly half a million ringgit in fake JP Morgan investment scheme
SIBU, May 22 — A housewife in her 60s here lost RM447,300 after falling victim to a non-existent online investment scheme that had promised high returns but delivered none. Sibu police chief ACP Zulkipli Suhaili said the woman lodged a police report on Tuesday after realising she had been duped following 33 bank transfers to five local accounts between April 16 and May 20. He related that the victim was first introduced to the scheme on Jan 11 through Facebook by a woman who called herself 'Ah Chong'. 'She was later added to a WhatsApp group named Programme VIP012, where another individual known as 'Amy' persuaded her to invest in a scheme under the name Malaysia JP Morgan Family Office. 'The victim was shown screenshots of high profits supposedly earned by other investors, which convinced her to make multiple payments through bank accounts provided by the suspects,' Zulkipli said in a statement today. He said the victim used an app called JPFO Max, where she could see her supposed investment grow to around RM800,000. However, when she attempted to withdraw the profits, she was told that it was not allowed as the investment was still ongoing and required additional capital. 'No returns were ever received. Realising she had been deceived, the victim finally filed a report,' said Zulkipli. He added police have opened an investigation paper under Section 420 of the Penal Code for cheating. He reminded the public to remain vigilant and avoid being lured by investment schemes promising unrealistically high returns. 'Always verify the legitimacy of any investment platform or company through Bank Negara Malaysia's website at or the Securities Commission at he stressed. He also encouraged the public to use the Investment Checker tool to verify suspicious phone numbers or bank accounts via For further information or assistance, contact the National Scam Response Centre (NSRC) on 997 or follow updates from @CyberCrimeAlertRMP and @JSJKPDRM on Facebook. — The Borneo Post
Malay Mail
12-05-2025
- Malay Mail
Duped by ‘Destiny': Penang teacher loses RM511,000 to Facebook stock scam
GEORGE TOWN, May 12 — A teacher became the latest victim of an online stock investment scam, suffering a loss of over half a million ringgit. Penang Police Chief Datuk Hamzah Ahmad said the Seberang Perai Selatan District Police Headquarters' Commercial Crime Investigation Division received a complaint from a 47-year-old victim yesterday, claiming that a syndicate had deceived him out of RM511,000. 'According to the victim, he saw an advertisement for a stock trading investment on Facebook in February. He then began communicating with the suspect via WhatsApp, after which he was added to an investment group called 'Destiny On Your Hand.' 'In the group, the victim received detailed explanations about the investment being offered, enticing him to invest, as it promised high returns on the invested capital within a short period,' he said in a statement last night. Hamzah said the victim was instructed to download an app via the link provided to register as a member. Subsequently, the victim made 12 transactions to three different bank accounts. He said the victim realised he had been scammed after being unable to withdraw his capital and profits through the provided link, prompting him to lodge a police report. He added that investigations are ongoing, and the case is being investigated under Section 420 of the Penal Code for cheating. — Bernama
