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A 53-YEAR-OLD medical practitioner has lost RM8.7 million in life savings after falling victim to a non-existent online stock investment scheme promising extraordinary returns.
According to Johor Bahru South Deputy Police Chief Superintendent Azrul Hisham Mohd Shaffei, the victim came across the fraudulent investment advertisement on social media in April and was drawn in by promises of exceptionally high profits.
“She began engaging with the suspect to obtain more information, and was eventually offered returns of up to 520 per cent on her investment,” Azrul Hisham said in a statement today.
Convinced by the prospect of such lucrative gains, the victim proceeded to make a series of payments between May and July, transferring a total of RM8.7 million into multiple bank accounts as instructed by the suspect.
“However, she was later informed that she had only earned RM6,033 in profit, and was pressured to pay an additional RM500,000 as a deposit to withdraw her funds,” he said.
The victim was also threatened that her investment account would be frozen. Realising she had been scammed, she lodged a police report yesterday.
The case is being investigated under Section 420 of the Penal Code for cheating. - July 30, 2025
