News Formal

Singaporean engineer loses RM1.9 million in online investment scam

  • 📰 theSundaily
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

A 64-year-old Singaporean engineer lost RM1.9 million in an online investment scam after being lured by a fraudulent Facebook ad

: A 64-year-old Singaporean engineer fell victim to an online stock investment scam, losing RM1.9 million of his savings.

After clicking on the provided link, the man was added to a WhatsApp group where he received investment details. He then realised he had been scammed when unable to withdraw the profits displayed in the app and was asked to make additional payments to recover his initial capital.Offenders under Section 420 face imprisonment of one to ten years, whipping, and possible fines, while Section 411 carries a sentence of up to five years’ imprisonment, a fine, or both.

 

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:

 /  🏆 25. 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.

Singaporean engineer loses RM1.9mil in investment scam, say Johor copsMANILA: Vice President Sara Duterte on Friday (Oct 18) downplayed the multimillion “safe house” rentals paid for by her office’s confidential funds for 11 days in 2022, saying they were not unusual expenditures by government.
Source: staronline - 🏆 4. / 75 Read more »