KUALA TERENGGANU: A civil servant lost RM148,000 to a fraudulent online investment scheme after being lured into the DKCM Al Quantitative Trading stock investment programme promoted through WhatsApp.
Kuala Terengganu police chief ACP Azli Mohd Noor said the 46-year-old victim from Kuala Terengganu joined the scheme on Sept 4 and participated in investment classes via a WhatsApp group.
“The victim was instructed to download the P Trade app to record his investments. Throughout the process, he never met anyone in person, visited an office, or received any official documents related to the investment,“ Azli said when contacted today.
The victim made 28 transactions, totalling RM138,000, as capital payments between Sept 19 and Oct 24. Payments were made to three separate bank accounts as directed by individuals in the WhatsApp group.
Azli said the P Trade app initially showed that the victim’s investments had generated profits amounting to RM1,333,253, adding that the victim even managed to make a small withdrawal, giving him further confidence in the scheme.
However, his account was soon frozen and he was told to pay a penalty of RM25,000 to access the remaining funds.
In desperation, the victim paid RM10,000, hoping to release his earnings.
“When the scammers raised the penalty amount further, the victim realised he had been cheated and lodged a police report yesterday,“ Azli said.
The case is being investigated under Section 420 of the Penal Code for cheating.
Azli advised the public to be cautious of fraudulent investment schemes on social media, urging them to verify the legitimacy of such offers before committing any money.
