KUALA TERENGGANU: A man lost RM120,000 to a non-existent investment scheme offered by two women after being promised returns of RM286,000.
Kuala Terengganu OCPD Asst Comm Azli Mohd Noor said that on May 3, the 28-year-old pharmacist discussed the investment with the two women.
“The victim, who is from Raub, Pahang, made a series of cash payments totaling over RM138,000 to one of the suspects, who acted as an agent for the scheme.
“To conceal the scam, the victim received RM18,000 in ‘profits’ over June, July, and August,” he said in a statement on Saturday (Nov 9).
Azli added that after this period, the victim, who had taken a personal loan to fund the investment, stopped receiving the promised returns and, feeling deceived, filed a police report.
The case is being investigated under Section 420 of the Penal Code.- Bernama
