A 59-year-old man in Kuching lost over RM2.2 million after being lured into a fake stock investment scheme through a WhatsApp group.
KUCHING: A 59-year-old man lost RM2,268,696.90 in an elaborate online investment scam after being added to a WhatsApp group promoting fake stock investments.
Kuching police chief ACP Alexson Naga Chabu said the victim was at home on August 18 when he was invited into a group promoting a fraudulent scheme called ‘MLK1’.
The victim was instructed to download an application called ‘MLMA’ to participate in the investment, which promised high returns.
“He made 22 online transfers into 11 different bank accounts amounting to RM2,268,696.90,” said Alexson.
The victim only realised he had been cheated when he failed to withdraw the supposed investment profits of RM39,103,045.06 displayed in his MLMA app account.
Alexson confirmed the case is being investigated under Section 420 of the Penal Code for cheating, which carries a penalty of imprisonment between one and ten years and caning upon conviction. – Bernama
