Sibu company supervisor fleeced of RM331,050 in cryptocurrency investment scam

File photo for illustration purposes only. Photo credit: BearyBoo from Pixabay

By William Isau

SIBU,June 23: A supervisor of a private company in his 60s suffered a loss of RM331,050 after he was deceived by an online cryptocurrency investment scam.

Sibu District Police Chief ACP Zulkipli Suhaili said that the man’s ordeal started on Nov 15 last year when he became interested in a cryptocurrency investment advertised in Facebook.


“The victim called a number listed on the Facebook page and a suspect introduced himself as a teacher/tutor named Gabriel Lee,” he said today.

Zulkipli said the suspect then added the victim to a WhatsApp chat group named ‘188-Financial Century’.

On March 18, the suspect got the victim to register an investment account on the ‘Kakaue’ application supposedly for investment purposes and promised he could earn profit from the investment.

“The suspect also instructed the victim to make payments for crypto investments in stages in order to gain profit.

“From March 19 to May 24, the victim made investment payments totaling RM331,050 in 11 transactions into eight company and individual bank accounts as instructed by the suspect,” he said.

After all the transactions were made, Zulkipli said, the victim made a check through the ‘Kakaue’ application and found that his accumulated profit was supposedly USDT3,610,730.8963.

On June 20, the victim contacted the suspect to claim the profit, but was told that he needed to make a deposit payment first.

Until a police report was made on June 21, Zulkipli said, the victim had not received any returns or profit as promised.

“The case is being investigated under Section 420 of the Penal Code cheating,” he added. — DayakDaily