SEREMBAN: Two women lost a total of RM1.12mil in investment schemes which had promised unusually high returns, says state police chief Deputy Comm Datuk Ahmad Dzaffir Mohd Yusoff.
In the first case, he said a 44-year-old woman in Bahau near here lost RM621,800 after putting her money in a gold investment scheme which was supposed to give lucrative returns in US dollars.
The woman, a private sector employee, came across the scheme on TikTok in March and contacted the person in charge.
“She was asked to check a website for more details and then told to bank in the amount she wished to invest into different accounts.
“Subsequently, she transferred the money via 27 transactions. She received an initial profit of RM20,000 but she didn’t get any after that,” he said in a statement.
DCP Ahmad Dzaffir said the second victim, a 63-year-old woman, lost RM500,000 after investing her money with a company in Kuala Lumpur in June 2020.
Her relative had told her about the investment scheme.
“She decided to invest after she was told that the company would give her returns of between 15% and 17% a month for three years.
“For the following six months, she received RM6,250 a month but the payment stopped after that,” he said.
He said the woman eventually found out that the company had ceased operations when she went to Kuala Lumpur to meet its officers.
Both the victims lodged reports separately on Tuesday.
DCP Ahmad Dzaffir advised the public to exercise caution when investing their money online, especially with schemes which supposedly offer unusually high returns or when they are asked to send their funds into individual accounts.
“Please verify the status of companies which provide these so-called investments with Bank Negara or the Securities Commission,” he said.
Both cases are being probed under Section 420 of the Penal Code for cheating.
Seremban: State Police Chief Deputy Comm Datuk Ahmad Dzaffir Mohd Yusoff has reported that two women have collectively lost RM1.12 million in investment schemes that promised abnormally high returns. In the first case, a 44-year-old woman in Bahau suffered a loss of RM621,800 after investing in a gold scheme that guaranteed lucrative returns in US dollars. The woman, who works in the private sector, discovered the scheme on TikTok in March and contacted the person in charge. She was directed to a website for more information and instructed to deposit her desired investment amount into different accounts. Subsequently, she made 27 transactions, initially receiving a profit of RM20,000, but no further returns thereafter, according to DCP Ahmad Dzaffir.
In the second case, a 63-year-old woman lost RM500,000 after investing with a Kuala Lumpur company in June 2020. She decided to invest based on a relative’s recommendation, as the company claimed to provide monthly returns of 15% to 17% for three years. Initially, she received RM6,250 per month for six months, but the payments suddenly halted. When the woman visited the company’s officers in Kuala Lumpur, she discovered that it had ceased operations. Subsequently, both victims filed separate reports on Tuesday.
DCP Ahmad Dzaffir has advised the public to exercise caution when investing money online, particularly in schemes that promise unusually high returns or require funds to be transferred into individual accounts. He emphasized the importance of verifying the status of these investment companies with Bank Negara or the Securities Commission. Both cases are currently under investigation for cheating under Section 420 of the Penal Code.
Credit: The Star : News Feed
