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A RETIRED man has lost RM94,463 of his pension compensation after being duped by a fake online investment scheme, police confirmed.
Kuala Terengganu District Police Chief, Assistant Commissioner Azli Mohd Noor, said the 59-year-old victim lodged a report at the Kuala Terengganu Police Station at 8.17pm yesterday.
According to police, the incident began on 14 August at around 3.10pm, when the retiree was introduced to the so-called investment via a mobile application while at home.
“The victim followed instructions and registered on a website before making an initial investment of RM200,” said Azli.
He added that the platform falsely showed the investment growing and displayed apparent profits.
“The victim was then persuaded to make additional transactions on the pretext of processing the payout of the profits supposedly earned.”
Between 14 and 17 August, the victim made a total of 12 transactions into six different bank accounts as directed by the syndicate.
Feeling he had been deceived, the victim eventually filed a police report. The case is being investigated under Section 420 of the Penal Code for cheating.
“The total loss suffered by the victim amounted to RM94,463,” Azli said, adding that the funds used were part of the victim’s pension compensation. - August 19, 2025
