By DayakDaily Team
KUCHING, Nov 12: A 59-year-old local man has lost more than RM2.2 million after falling victim to an online share investment scam.
Kuching District Police chief ACP Alexson Naga Chabu said the Commercial Crimes Investigation Division (CCID) has received a report of the major online non-existent share investment (MLMA) fraud.
According to police, the victim was added to a WhatsApp group on Aug 18, 2025, where he was introduced to a share and IPO investment under the name MLK1.
“He was instructed to download the MLMA investment app, which promised substantial returns.
“Over a period of time, the victim made 22 online transfer transactions to 11 different bank accounts. Suspicion arose when he failed to withdraw the promised profits, which were displayed in the app as RM39,103,045.06. The total financial loss he suffered amounted to RM2,268,696.90,” he said in a statement today.
Alexson revealed that from Jan 1 to Oct 12 this year, the police investigated 100 similar cases using the same modus operandi, resulting in total losses of RM22.98 million.
The case is being investigated under Section 420 of the Penal Code, which covers cheating and dishonestly inducing delivery of property. Convictions carry imprisonment from one to 10 years, whipping, and possible fines.
Alexson urged the public to be cautious of online investment schemes, verify licensed entities on the Securities Commission Malaysia website, and report any suspicious activity to the CCID Sarawak via hotline, message, or WhatsApp at 011-62890089 or email kjsjkswk@rmp.gov.my. — DayakDaily
