KUALA TERENGGANU: A housewife lost RM125,491 after falling victim to a cheap gold investment scheme.
Terengganu police chief Datuk Mohd Khairi Khairudin said the 30-year-old victim from Kuala Terengganu began investing in the Sarah Gold Enterprise cheap gold package in August 2021 after being introduced to it by her sister-in-law.
He said the victim later registered as an agent and made payments to Sarah Gold Enterprise’s account via online transactions using her sister-in-law’s name.
“Initially, the transactions went smoothly. However, starting September last year, the victim no longer received the gold purchased by customers or the profit payments meant for distribution to agents under her.
“Following discussions, the founder of Sarah Gold Enterprise agreed to repay the gold purchase capital in instalments and made an agreement. The total loss incurred by the victim amounted to RM127,991,” he said in a statement today.
Mohd Khairi said the victim decided to lodge a police report after receiving only RM2,500 to be distributed to agents up until Dec 31 last year.
He added that the police are actively pursuing the suspect and urged the public with any information to contact the nearest police station.
The case is being investigated under Section 420 of the Penal Code, which carries a maximum jail term of 10 years and whipping upon conviction.
He also reminded the public to always be cautious of investment schemes promising high returns in a short period.
