SIBU: A man in his 50s lost RM485,320 in a fraudulent forex trade here.
Sibu OCPD Asst Comm Zulkipli Suhaili said its commercial crime investigation department received a report from a victim on May 23, who said that he had been cheated.
"In his report, the victim said he had been added to a chat group offering a forex investment opportunity in Hong Kong promising double returns," he said.
ACP Zulkipli said the man made an initial investment of RM20,000 and then was told to download the "Meta Traders 4" application.
The victim later made 109 transactions into two separate accounts from November 2022 until March 2023," he said, adding that the victim lost RM485,320 in total.
"He became suspicious when he was asked to deposit another RM11,000 for 'trader agents' to come to Sibu to meet him," he said.
The victim then consulted a lawyer and was told that he had been scammed.
