JOHOR BARU: A Malaysian residing in Australia has lost RM846,500 in a nonexistent investment scheme.
Seri Alam OCPD Supt Mohd Sohaimi Ishak said the victim was enticed to join the scheme with promises of a lucrative return on investment (ROI) of US$100,000 within three hours.
“The episode started on Sept 16, after the 49-year-old victim invested US$18,000 in a company named TMGM via its website," he said in a statement on Wednesday (Nov 8).
Supt Mohd Sohaimi said the scammer made the offer in conjunction with the company’s "10th anniversary".
He said believing in the promise of big profits, the victim made 12 transactions totalling RM846,500 to three banks in Malaysia between Sept 16 and 26.
“However, he did not receive any profit after making the payments and realised he had been cheated," said Supt Mohd Sohaimi.
He added that the police report was lodged by a lawyer representing the victim on Nov 3, and the case is being investigated under Section 420 of the Penal Code for cheating.
Supt Mohd Sohaimi said the investigation would also extend to punitive action against the holders of the local accounts if they are found to be mules for scammers.
“We are still (looking into) the nature of the victim's job in Australia," he added.
