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A 57-year-old private sector employee in Pahang suffered a devastating financial blow after falling prey to a fraudulent stock investment scheme promoted on social media platforms
The victim, whose identity remains protected, lost a total of RM636,123 after being lured by promises of extraordinary wealth and high-yield returns that never materialised, according to Bernama.
Pahang police chief Datuk Seri Yahaya Othman confirmed the incident in a statement issued on 19 February, revealing that the deception began late last year on 3 November.
The victim initially encountered an advertisement for a stock investment opportunity on social media and subsequently contacted the scammers via WhatsApp.
During these initial interactions, the perpetrators presented an enticing proposal: a guaranteed profit of 30% within a single month, provided the victim committed a minimum investment of RM10,000.
To establish a veneer of legitimacy and further entangle the victim, the suspects instructed the man to download an investment application
The application appeared to be a tool frequently used by modern fraudsters to simulate real-time market activity.
The victim was led to believe his wealth was growing at an exponential rate, as the application displayed purported profits and commissions that eventually swelled to RM1,843,765.38.
This visual confirmation of success likely emboldened the victim to continue his involvement, unaware that the figures displayed were entirely fabricated by the scammers.
The reality of the situation only came to light when the victim tried to access his supposed fortune
Instead of transferring the funds, the suspects used classic stalling tactics: presenting various excuses and demanding further payments as "fees" or "taxes" before any money could be released.
Realising he had been cheated, the victim lodged a police report on 18 February. Investigations later revealed that he had not only exhausted his personal savings but also sought financial help from family members to fund the high-stakes investment.
Yahaya urged the public to remain vigilant and sceptical of any investment opportunity promising guaranteed, high-yield returns with minimal risk
He noted that legitimate investment firms in Malaysia are regulated by the Securities Commission and do not typically solicit funds through informal messaging apps or social media ads.
Authorities strongly advise anyone who suspects they have been targeted by a scam to immediately contact the National Scam Response Centre (NSRC) by dialling 997, enabling a prompt response that may, in some cases, lead to the freezing of illicitly transferred funds.
