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Elderly Malaysian Loses RM2.27 Million to Investment Scam

2024-06-19 BrokersView

Elderly Malaysian Loses RM2.27 Million to Investment Scam

An elderly man lost RM2.27 million due to a share investment scam on WhatsApp.


Johor Bahru police chief M Kumar said the 75-year-old local man reported the case the police on June 16, claiming he was scammed on Dec 19 last year.


According to the WhatsApp messages provided by the victim, he received information about investments and was promised that he would make a good fortune in a short period.


The victim was attracted by the offer, downloaded the application as guided, and registered a bank account to monitor his trading.


Within a few weeks, the elder man initiated several transfers, totaling RM2.27 million.


The scammer said that the profits in his account had reached RM12.9 million and asked for RM1.6 million 'commission' from the victim. However, the victim began to suspect that he was being scammed and refused to pay the 'commission'.


The case is being investigated by the local police.