Senior citizen loses RM1.7 million to investment scam promising high returns

BATU PAHAT - A senior citizen lost RM1.7 million after falling victim to an online investment scam that promised lucrative returns.

Batu Pahat police chief ACP Shahrulanuar Mushaddat Abdullah Sani said the 67-year-old man first came across the investment advertisement on social media in December last year (2024).

Drawn by the advertisement, the retiree contacted an individual through WhatsApp to obtain more information.

"The victim was promised a 50 per cent return from the investment within three months. Believing the offer, the victim made several investments between April and July this year.

"In addition to transferring RM1.7 million to several accounts as instructed by the suspect, the victim also downloaded an application and registered an account to monitor the investment,” he said in a statement today.

Shahrulanuar Mushaddat said that according to the victim, the investment account showed a profit of RM2 million. However, when he attempted to withdraw the money, the victim was told to make additional payments, which he refused to do.

"At the time the report was filed yesterday, the victim had not received any returns. The suspect could not be contacted, and access to the investment account has been blocked,” he said, adding that the case is being investigated under Section 420 of the Penal Code for cheating. - BERNAMA