A 62-year-old man in Ipoh lost over RM300,000 after falling victim to a fraudulent stock investment scheme advertised on Facebook.
IPOH: A 62-year-old unemployed man has lost RM300,651 to a fake stock investment scheme promoted on Facebook.
Perak police chief Datuk Noor Hisam Nordin said the victim saw the advertisement in early October and contacted the provided number via WhatsApp.
The victim then made 14 transactions totalling RM300,651 into a bank account registered under a company’s name. He used his savings and loans from a moneylending firm for the payments.
He realised he had been cheated when he could not withdraw the promised returns. The case is being investigated under Section 420 of the Penal Code for cheating.
Noor Hisam urged the public to be wary of unauthorised investment offers, especially those guaranteeing high returns quickly.
