JOHOR BAHRU - A 53-year-old medical practitioner lost her savings of RM8.7 million after falling victim to an online investment scam promising high returns from stock trading.
Johor Bahru Selatan deputy police chief Supt Azrul Hisham Mohd Shaffei said the victim had come across an advertisement for the scheme on social media in April and was lured by promises of lucrative profits.
He said the woman began corresponding with the suspect to obtain more details, and was eventually offered returns of up to 520 percent on her investment.
"Convinced by the promised profits, the victim made payments amounting to RM8.7 million into several bank accounts as instructed by the suspect, between May and July,” he said in a statement today.
However, despite the large sum invested, the victim was later informed she had earned only RM6,033 in returns, and was then coerced into paying an additional RM500,000 as a ‘deposit’ to withdraw her funds.
Azrul Hisham said the victim was also threatened that her investment account would be frozen, prompting her to realise she had been duped.
She lodged a police report yesterday, and the case is being investigated under Section 420 of the Penal Code for cheating. - BERNAMA