KOTA TINGGI, July 26 —A housewife lost RM119,599.24 after falling victim to an investment scam on July 19.
Kota Tinggi police chief Supt Yusof Othman said the 58-year-old woman came across an advertisement for an investment scheme, identified as XM Royal, on Facebook.
He said the syndicate’s modus operandi was to offer victims investment packages starting from RM300, promising returns of up to RM15,000 within two hours.
“The victim subsequently carried out eight fund transfers to different bank accounts, amounting to RM119,599.24, from July 19 until last Thursday to secure the release of the purported investment profits that had allegedly been frozen,” he said in a statement last night.
Yusof said the victim realised she had been scammed after failing to receive the promised investment returns despite making several payments.
He said the victim lodged a police report on Friday and investigations were ongoing. — Bernama
