Company director loses RM1.3 million to non-existent investment scam

Source: thesun.my

SEREMBAN: A company director lost over RM1.3 million after falling victim to a non-existent online investment scheme last month.

Seremban district police chief ACP Mohamad Hatta Che Din said the 45-year-old man dealt with an unknown individual via WhatsApp and carried out transactions between April 29 and May 28.

"The victim made 16 transactions using both his own money and the company's funds for the investment. He filed a report yesterday, and the case is being investigated under Section 420 of the Penal Code," he said in a statement today.

In the meantime, Mohamad Hatta said the Commercial Crime Investigation Department at the Seremban District Police Headquarters has opened 55 investigation papers related to losses totalling RM4.38 million from January until June 11, all linked to the same modus operandi.

During the same period, 23 individuals have been charged under Section 424 of the Penal Code and Section 29 (1) of the Minor Offences Act 1955.

He reminded the public not to trust online investment offers easily and to contact the CCID Scam Response Centre at 03-26101559 or 03-26101599 for further information or advice.