A 38-year-old private-sector doctor lost RM300,000 after investing in a non-existent ‘Kad Prihatin Siswa’ project promising 10 per cent monthly returns.
KUALA LUMPUR: A private-sector doctor lost RM300,000 after falling victim to an investment scam involving a non-existent ‘Kad Prihatin Siswa’ project.
Ampang Jaya police chief ACP Khairul Anuar Khalid said the 38-year-old woman and her husband had dealt with a man regarding the project, both in person and via the WhatsApp application, in early 2023.
He said the suspect presented the project as an investment supposedly involving 20 universities and about 620,000 studens, while also promising the victim lucrative returns.
“The complainant made five payments totalling RM300,000 into the suspect’s bank account throughout 2023.
“After the payments were made, an investment agreement was signed stating that the investment would yield a 10 per cent monthly return for 12 months, with the principal to be returned upon expiry of the agreement,” he said in a statement today.
Khairul Anuar said the victim was also registered as a holder of a 10 per cent share in the company.
However, he said the victim never received any of the promised profits or dividends.
“The victim and her husband repeatedly sought clarification, dividend payments and a copy of the stamped agreement, but the suspect gave various excuses and failed to resolve the matter,” he said.
Realising she had been scammed, she then lodged a polie report.
Khairul Anuar said no arrests had been made so far and police are conducting further investigations under Section 420 of the Penal Code for cheating.
