JOHOR BAHRU: A female broker reported a loss of RM1.45 million, after falling victim to a fraudulent overseas stock investment scheme, in May.
Johor police chief CP M Kumar revealed that the 44-year-old woman discovered an advertisement on Facebook for a stock market investment in Hong Kong, under the name ‘Pantheon Ventures’, which offered 100 per cent profit, 25 per cent for agents and 75 per cent for investors.
He said that the victim was added to a WhatsApp group called ‘V-27 Pantheon Market Insight Academy,‘ where she received investment information, and was offered a free trip to Hong Kong to meet investors.
“Attracted by the promised returns, the victim made payments to several local bank accounts, from June to this month, totalling RM1.5 million. She also downloaded the Apex application to track her investment.
“Initially, the victim observed profits on the application and was able to withdraw some earnings, leaving a balance of RM1.45 million for continued investment,” he said in a statement today.
However, the victim was unable to withdraw her profit due to several issues, including investment arrears and non-compliance with the set rules, before being blocked from the WhatsApp group.
“The victim realised she had been scammed, and filed a police report in Muar, yesterday. The case is being investigated under Section 420 of the Penal Code,” he said.
According to Kumar, from January to yesterday (Aug 20), a total of 399 investment fraud cases were recorded, with losses totalling RM32.9 million, compared with 327 cases and RM26 million in losses reported for the same period last year.
