KLUANG: A school teacher, who hoped to make some quick gains by investing in stocks in China, was duped in a fake investment scam, causing her to lose RM359,000.
The teacher, in her 30s, had transferred almost RM407,000 to a syndicate via more than 50 transactions, but only managed to get back less than 12% of what she had invested.
A police official said that the incident occurred when the teacher came across an advertisement on social media offering investors good returns when investing in the Chinese Stock Exchange several weeks ago.
“The woman was immediately put in a group offering advice and tips to newbie investors,” the official said, adding that the syndicate members convinced the woman to take part in the scheme.
It is learnt that between April and May, the woman withdrew all her savings and carried out more than 50 transactions deposited into various accounts.
“To persuade the woman to invest more, the syndicate continued to transfer some money to her, claiming that it was her gain while the principal was still intact,” the official said, adding that the woman had received more than RM48,000 in returns.
However, the woman began to suspect something was amiss when she did not receive any returns at the end of May. This came as syndicate members continued to press her for more investments, saying it was a bull run for stocks in China.
The woman then lodged a police report.
Kluang OCPD Asst Comm Bahrin Mohd Noh confirmed that the police were investigating the case under Section 420 of the Penal Code for cheating.
In KOTA TINGGI, a fake job scam deceived a 40-year-old clerk seeking a part-time job to support her family, defrauding her of RM200,000.
It was learned that the woman saw an advertisement on social media that led her to contact someone who was offering jobs online.
“The victim was convinced that it was a genuine job to help boost the ranking of a car sales website as she received a payment of RM35 within a short period of time.
“The scammer then enticed the victim to invest money to help boost a crypto-currency advertisement promising huge returns,” the official said, adding that the woman then transferred almost RM200,000 to various accounts within three days at the end of May.
“The victim only realised that she had been duped when the scammer asked for almost RM10,000 to pay taxes to recover her principal and commission,” the official said, adding that the police were investigating the case for cheating.
He urged the public to be cautious when making large transfers to various accounts online, and to always use the Semak Mule mobile app or go to https://semakmule.rmp.gov.my to check if any of the bank accounts or phone numbers concerned have been associated with suspicious activities.
