By DayakDaily Team
KUCHING, June 30: A 55-year-old local man has fallen victim to an online investment scam involving a non-existent stock scheme, resulting in losses amounting to RM287,000.
Kuching District Police chief ACP Alexson Naga Chabu said the Commercial Crime Investigation Division of the Kuching District Police Headquarters received a report on the case after the victim realised he had been deceived in an investment scheme promoted through social media.
“Based on initial investigations, the victim came across an investment advertisement on Facebook around March 2026 while at his home. He was subsequently persuaded that he could gain substantial returns by participating in a stock investment scheme known as ‘UOBS’.
“Between April and May 2026, the victim made 11 transactions to six different bank accounts provided by the suspect, totalling RM287,000,” he said in a statement today.
However, after all payments were made, the victim was unable to contact the suspect and did not receive any returns as promised, prompting him to lodge a police report.
Alexson said the case is being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing delivery of property.
If convicted, offenders may face imprisonment of not less than one year and up to 10 years, whipping, and a fine.
The police reminded the public to be cautious of online investment schemes that promise unrealistic returns, especially those circulated through social media platform. — DayakDaily
