By DayakDaily Team
KUCHING, Sept 10: A 74-year-old local man lost RM220,000 after falling victim to an online investment scam involving a non-existent stock market investment.
Kuching District Police chief ACP Alexson Naga Chabu said the victim came across an investment advertisement on Facebook while at home on July 31.
“The victim clicked on a WhatsApp link in the advertisement and was subsequently contacted by a person using the number 011-28273976, who claimed to be an administrator for Network 1 Agency Sdn Bhd.
“The victim was also added to a WhatsApp group related to the investment scheme and was instructed to click on a link leading to a website purportedly belonging to Network 1 Agency Sdn Bhd.
“He was then told to deposit investment capital with promises of lucrative returns,” he said in a statement today.
Alexson said the victim subsequently made payments in stages into four different bank accounts through eight online transfer transactions.
However, the victim became suspicious after he was unable to withdraw the investment profits displayed in the investment application.
“The victim realised he had been deceived and suffered losses totalling RM220,000,” he said.
The case is being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing the delivery of property.
Alexson said those convicted under the provision face imprisonment of between one and 10 years, whipping and may also be liable to a fine.
He advised members of the public to verify investment opportunities by checking the list of licensed entities on the Securities Commission Malaysia website before committing any funds.
“Do not easily trust investment offers on social media that promise lucrative returns,” he said. — DayakDaily
