JOHOR BARU: A 55-year-old woman lost RM751,070 in a non-existent investment scheme she came across on Instagram.
According to Johor Baru North OCPD Asst Comm Balveer Singh, the victim was lured by promises of a 10% to 20% return on her investment.
He said the woman initially connected with one ‘Elsa’ through her Instagram account on Sept 18 and the two exchanged messages via WhatsApp, with the latter providing further details about the investment.
Following Elsa’s instructions, the victim downloaded an app and proceeded to make 22 transactions to transfer funds into four different bank accounts from Nov 7 to Dec 13.
“The victim only realised she had been cheated after being asked to deposit more money in order to withdraw the amount invested earlier,” said ACP Balveer.
The victim lodged a police report yesterday. The case is being investigated under Section 420 of the Penal Code for cheating.
ACP Balveer reminded the public to be vigilant when dealing with financial transactions or job offers from unknown individuals.
