A retired civil servant lost RM97,933 after falling victim to a fraudulent online investment syndicate on TikTok.
KUALA TERENGGANU: A retired civil servant here lost RM97,933 after being duped by a fraudulent online investment syndicate.
Kuala Terengganu district police chief ACP Azli Mohd Noor said that on May 14, the 59-year-old victim came across an investment advertisement on the TikTok application offering lucrative returns within a short period.
The victim then contacted the suspect via Telegram and agreed to make an initial investment using his pension funds.
“The suspect informed the victim that he had earned profits from the investment. However, he was required to make a payment in order to withdraw the purported returns.
“The victim, who was desperate, made several payments between May 20 and June 2, but still failed to receive any of the promised profits,” he said in a statement today.
Azli said the victim, upon realising he had been scammed, lodged a police report at 8.24 pm yesterday. The case is being investigated under Section 420 of the Penal Code.
