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A 72-year-old company manager lost RM5.02 million after falling for a non-existent investment scheme online
According to the New Straits Times, Selangor deputy police chief DCP Zaini Abu Hassan said the victim was lured by an advertisement on social media and contacted the alleged scammer through WhatsApp.
"The victim was added to a WhatsApp group and instructed to download an app and register as a new investor," he explained.
Zaini said the victim made periodical cash transactions to four different accounts totalling RM5.02 million.
Image via New Straits Times
The victim only realised he had been scammed in March this year when he was asked to make additional payments for "tax purposes" in order to retrieve his investments
He has since filed a police report in Serdang. The case is being investigated under Section 420 of the Penal Code for cheating.
The police chief urged the public to remain vigilant and sceptical of investment offers on social media that promise high and unrealistic returns.
