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A 73-YEAR-OLD retiree has lost RM563,560 to a fraudulent investment scheme advertised on social media, after being lured by promises of high returns and fake profits exceeding RM1.7 million.
Batu Pahat District Police Chief, Assistant Commissioner Shahrulanuar Mushaddat Abdullah Sani, said the elderly victim lodged a police report upon realising he had been scammed.
“The victim was initially attracted to a Facebook advertisement in April offering lucrative investment returns,” he said in a statement today.
He added that the retiree then contacted an unknown individual via WhatsApp, who convinced him to invest in what turned out to be a bogus scheme.
“Between 3 June and 24 July, the victim transferred a total of RM563,560 to five separate bank accounts. The platform later displayed fictitious profits amounting to RM1.77 million,” said Shahrulanuar.
However, when the retiree attempted to withdraw his supposed earnings, he was told to make an additional payment — a red flag that prompted him to halt further transfers and file a police report.
The case is being investigated under Section 420 of the Penal Code for cheating.
Police have once again reminded the public to remain cautious of online investment offers that appear too good to be true and to verify the legitimacy of platforms before committing funds. - Sept 3, 2025
