Company auditor loses RM1.48 million to non-existent investment

NIBONG TEBAL - A company auditor lost RM1.48 million after being deceived into investing in a company stock which actually did not exist.

Seberang Perai Selatan district police chief Supt Ng Ah Thiam said the 43-year-old woman, who works in Sungai Bakap, claimed she saw the advertisement by the New York-based company on Facebook on May 2.

"She followed the advertisement link and subsequently got an explanation about the stock investment and then made payments in several transactions amounting to RM1.48 million into several accounts provided by the syndicate.

"However, after the money was deposited, she claimed not getting the profit as promised, but was asked to increase her investment to enable her to withdraw the money," he said in a statement today.

Ng said the woman lodged a police report last Monday after realising that she had been cheated and the police were investigating the case under Section 420 of the Penal Code.

He also advised the public not to be influenced by investment schemes that promised lucrative returns on social media. - BERNAMA