Johor Contractor Falls Victim To RM688K Investment Scam Promising 410% Returns

  • 📰 therakyatpost
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 59%

Business News News

Business Business Latest News,Business Business Headlines

E: The victim transferred a total of RM688,000 to three different bank accounts in 17 separate transactions.

Subscribe to our FREE Newsletter, or Telegram and WhatsApp channels for the latest stories and updates.

The 50-year-old victim from Johor Bahru was initially enticed by a Facebook advertisement on 26 July. Between 31 July and 8 September, the victim made 17 transfers totalling RM688,000 to three different bank accounts.However, in early September, when he tried to withdraw more funds, he was told to increase his investment first.

The victim’s suspicions were finally aroused when he attempted to contact the purported investment company for verification.Police have launched an investigation under Section 420 of the Penal Code, which deals with cheating and dishonestly inducing delivery of property.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Contractor Loses RM688,000 to Online Investment ScamA 50-year-old contractor lost RM688,000 to an online investment scam called DFA after being lured by promises of high returns. He was contacted through Facebook and added to a WhatsApp group where he received instructions on how to invest via an app called ATS-P. After making several transactions, the victim was unable to withdraw his profits and discovered the company behind the scheme did not exist.
Source: theSundaily - 🏆 25. / 51 Read more »