ALOR SETAR: An unemployed man lost more than RM174,000 after being deceived by a non-existent investment scheme in Kuala Ketil, Baling, for the past six years.
Head of the Commercial Crime Investigation Department of Kedah police, Supt Loi Yew Lik, said the 33-year-old victim was introduced to the investment scheme by a friend and invested RM10,000 starting in December 2018.
“The complainant then made 21 more capital payments to the same bank account amounting to RM174,270 and did not get any profit. He was promised a profit within a month, but until the police report was made (now), the complainant has yet to receive any returns. He began to suspect he has been cheated,” he said in a statement here today.
The victim lodged a report at the Kuala Ketil police station at 5.49 pm yesterday.
Loi said the investigation revealed that the investment was fake under ‘Mandiri International Remittance Sdn Bhd’, an international investment company, adding that the case was investigated under Section 420 of the Penal Code for cheating.
He advised the public to check further with the Malaysian Securities Commission and the website https://semakmule.rmp.gov.my before investing.
