GEORGE TOWN: A housewife lost RM521,450 after falling victim to a fraudulent investment scheme carried out face-to-face in Seberang Perai Utara (SPU), near here, recently.
Penang police chief Datuk Hamzah Ahmad said the Commercial Crime Investigation Division from the SPU Police Headquarters received a report from the 57-year-old woman yesterday, with investigations underway.
“Based on investigations, the victim was introduced by her neighbour to the scheme, which promised high returns in a short period in 2022, before introducing the victim to another woman who posed as a marketing officer,” he said in a statement today, adding that the woman explained to the victim how the investment worked.
He said the victim then joined the investment and made 51 cash transactions into five different bank accounts from March 4, 2022 to Jan 22, 2024 totalling RM521,450, before realising she had been scammed after the suspect kept giving excuses whenever she wanted to withdraw her profits.
Hamzah said some of the excuses given were that the investments had not reached maturity dates and that there was no need to worry because her capital was safely stored in Bank Negara.
He said the victim was also told to make various additional payments, such as payments to Bank Negara and legal fees to facilitate getting her capital and profits.
“Investigations are ongoing, including tracing those involved in the scam, and the case is being investigated under Section 420 of the Penal Code for cheating,” he added.
