MIRI: A businessman in his late 50s has lost RM570,000 after falling victim to a fraudulent investment scheme advertised on Facebook.
The victim saw the advertisement for a stock investment on the Malaysian Chinese Association’s Facebook page and contacted an unknown individual through the platform.
The suspect offered an investment scheme promising attractive returns within a short period through a platform called “Chief Inv.”
The victim carried out several money transactions totalling approximately RM570,000 into a bank account provided by the suspect.
He realised he had been scammed when he failed to withdraw the promised profits and the suspect demanded additional payments for returns.
The Miri district police are investigating the case under Section 420 of the Penal Code for cheating.
Police chief ACP Mohd Farhan Lee Abdullah advised the public to exercise caution with online investments promising high returns quickly.
He suggested verifying suspicious companies or websites through Bank Negara Malaysia’s official portal or the Securities Commission Malaysia. – Bernama
