BATU PAHAT: A 73-year-old man has lost RM563,560 after falling victim to a non-existent investment scam.
Batu Pahat police chief ACP Shahrulanuar Mushaddat Abdullah Sani stated that the victim was enticed by a Facebook advertisement on April 2 promising high returns.
The senior citizen subsequently engaged with an unknown man via WhatsApp and transferred money into five different accounts between June 3 and July 24.
After transferring the funds, the victim was shown a fabricated portfolio indicating his profits had purportedly ballooned to RM1,770,017.79.
The suspect then demanded an additional payment to withdraw the fictitious sum, which the victim refused to provide.
The victim never received the promised returns and his initial investment also vanished completely.
Realising he had been duped, the victim filed a police report yesterday regarding the fraudulent scheme.
The case is being investigated under Section 420 of the Penal Code for cheating. – Bernama