Businessman loses RM610,000 in fake investment scheme

MUAR – A businessman loses RM610,000 after falling victim to a non-existent investment scheme that promised unusually high returns.

Muar district police chief ACP Raiz Mukhliz Azman Aziz said the 49-year-old man had been drawn to an investment advertisement on Facebook before getting in touch with the suspect via WhatsApp.

Lured by lucrative returns of up to 750 per cent, the victim proceeded to make multiple payments to different bank accounts from April 1, he said in a statement today.

Raiz said the victim had also been informed by the suspect that all investment matters would be handled by a broker.

"The victim only realised he had been scammed when he was asked to make an additional payment to withdraw the profits purportedly earned from the investment.

"He subsequently lodged a police report yesterday (April 28) for insurance claims on the losses suffered,” he said, adding that the case was being investigated under Section 420 of the Penal Code.

Raiz advised the public to remain cautious of online investment offers that promise extraordinary high returns. – BERNAMA