KLUANG: An octogenarian lost RM562,000 after falling for an online investment scam that promised lucrative returns.
Kluang district police chief ACP Bahrin Mohd Noh said the 80-year-old victim lodged a police report yesterday, claiming he was deceived by the non-existent investment with no profits forthcoming.
He said the man came across the investment advertisement on Facebook under the name ‘Yee Yin Value Investment’ in September last year and started communicating with an unknown person via WhatsApp.
“The victim was promised substantial returns and was instructed to register on a website provided by the suspect to see the profits gained after an investment is made.
“Deceived by the high returns, the victim made investments through eight transactions using three different bank accounts from September 2024 to early February this year (2025),” he said in a statement today.
He added that as of the day the report was made, after depositing RM562,000 in total, the victim had not received any profits and the suspect could not be contacted, while the website was also inaccessible.
The case is being investigated under Section 420 of the Penal Code for cheating.