KUALA TERENGGANU: A construction site supervisor has fallen victim to an investment scam, losing RM118,800 after being lured into a non-existent scheme through a trading app called ATS Pro.
Kuala Terengganu OCPD Asst Comm Azli Mohd Noor said the 39-year-old victim discovered the app when an unknown individual added him to a WhatsApp group on April 21.Intrigued by the discussions and profits shared by other group members, the victim was subsequently contacted by an individual named “Vincent”.
Vincent encouraged him to invest based on recommendations from a mentor named “Joel Kim”.“The investment agreement was executed online with Dimensional Fund Advisory (Hong Kong) Investment Company, the sponsor of the application, which ultimately convinced the complainant of the promised returns,” he said in a statement yesterday, according to Bernama.
“The victim was attracted by promised profits of 5-9% within three to five days for an initial capital of RM5,000. The returns were to be disbursed in either ringgit or yuan.”
Azli said during a period of several months, the victim made 12 transactions totalling RM118,800 to two bank accounts.
When the victim attempted to withdraw a profit of RM2,000, he encountered difficulties.
Upon reaching out to Vincent and the customer service of ATS Pro, he was informed that he needed to pay RM424,298.08 to access his promised investment profit of RM1,151,590.40.
“Suspecting fraud, the complainant, who had utilised his Amanah Saham Nasional Bhd savings for the investment, decided to file a police report on Sunday morning.“The case is being investigated under Section 420 of the Penal Code,” said ACP Azli.
Meanwhile, in Kuantan, a trader was cheated out of RM244,000 after falling victim to a fraudulent online investment scheme that promised substantial returns.
Pahang police chief Comm Datuk Seri Yahaya Othman said the 35-year-old woman became interested in an investment scheme, Efinity Capital, which advertised potential profits from five to 300% on Facebook in July.
“The victim downloaded an investment application called ECMT Pro via a provided link. Between Aug 21 and Oct 3, she transferred a total of RM244,000 in 11 transactions to three different bank accounts.
“She realised she had been duped when no profits were received from the suspect. The funds she used were from her savings,” he said in a statement yesterday.
