Company manager loses more than RM400,000 to non-existent online scheme

Source: The Star

SEREMBAN: A 51-year-old company manager has lost more than RM400,000 after he was lured into investing in a non-existent online scheme, says police.

Seremban police chief Asst Comm Mohamad Hatta Che Din said the victim lodged a report upon learning that he had been scammed.

"His troubles started after he began communicating with a group of strangers via WhatsApp.

"The victim was then encouraged to invest in an investment scheme and he then transferred his money online via 19 transactions," he said in a statement on Thursday (May 16).

ACP Mohamad Hatta said the victim transferred his savings into the given accounts totalling RM401,075 between March 21 and May 12, eventually learning it was a scam.

The case, he said, is being investigated under Section 420 of the Penal Code for cheating, which carries a jail term of between one and 10 years, whipping and a fine upon conviction.

He advised those planning to make online investments, especially schemes that offered unusually high returns, to check with the authorities such as the police or Bank Negara Malaysia before investing.

"People need to exercise caution as scams involving non-existent investment schemes have seen a spike compared to other cases here in the first quarter of this year," he said.

The public can always call the CCID Scam Response Centre at 03-2610 1559 or 03-2610 1599 to verify such information.