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A WOMAN hoping to make fast money lost RM86,590 after being deceived by a non-existent investment scheme that claimed to offer returns of up to 40 per cent within 24 hours.
Kulai District Police Chief, Assistant Commissioner Tan Seng Lee, confirmed the report was filed by the victim yesterday.
“She claimed to have been tricked by a syndicate offering shares through a fake initial public offering (IPO) investment scheme,” said Tan in a media statement.
According to police, the victim was initially drawn in by promises of daily profits ranging between 30 and 40 per cent, supposedly credited to her Goatrader account.
“Tempted by the returns offered, the victim made 14 transactions between 5 August and 12 September to two local bank accounts,” Tan said.
The victim later checked her Goatrader account and found that the purported profit shown was RM137,043. However, she was unable to withdraw any of the money, as the account had been blocked.
Realising she had been defrauded, the woman lodged a police report.
The case is being investigated under Section 420 of the Penal Code for cheating involving fraudulent investments. If convicted, the offender may face a prison term of not less than one year and up to 10 years, along with whipping and a possible fine.
Tan also reminded the public to remain vigilant and use official online platforms provided by the Commercial Crime Investigation Department (CCID) such as the National Scam Response Centre (NSRC), CCID Infoline, and Semak Mule.
Members of the public may also refer to the Royal Malaysia Police’s official Facebook page for information on commercial crime modus operandi. - September 19, 2025
