Physiotherapist loses RM234,000 in fake Bybit investment scheme

Police warn of social media scams

13 Mar 2024 04:30pm
Photo for illustration purpose only. - FILE PIX
Photo for illustration purpose only. - FILE PIX

KUANTAN - A physiotherapist at a private medical centre, here lost RM234,000, after being tricked into participating in a non-existent investment scheme through social media earlier this year.

Pahang police chief Datuk Seri Yahaya Othman said that on Jan 13, the 25-year-old woman had visited a Facebook page and was interested in participating in profitable investments through the Bybit application.

He said that the victim then made 11 transactions, totalling RM234,000, into the bank account given by the suspect, from Jan 15 to March 2.

"The victim, who used her savings in addition to making loans from her acquaintances and the bank to invest, only realised that she was deceived after not getting the promised profit,” he said in a statement today.

He said that the victim lodged a police report at the Kuantan district police headquarters yesterday, and the case was investigated under Section 420 of the Penal Code for cheating.

Meanwhile, in MIRI, a man in his 40s suffered a loss of RM53,000 after being deceived by a non-existent loan syndicate.

Miri district police chief ACP Alexson Naga Chabu said the victim, who works as a supervisor in a private company, claimed that he had found a money loan advertisement on Facebook, before dealing through the WhatsApp application.

"The victim then handed over money amounting to RM53,000, through 12 transactions, to a third-party account given by the suspect.

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"The victim realised that he had been cheated when the loan still could not be obtained, where the suspect was still demanding money,” he said in a statement today.

Alexson said that the case is being investigated under Section 420 of the Penal Code, which provides a maximum jail term of up to 10 years, whipping and a fine, upon conviction. - BERNAMA