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Pilot Loses Over RM1 Million to Instagram Investment Scam

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Crime News

Investment Scam,Instagram,Fraud

A pilot in Malaysia lost a substantial sum of money to an investment scam advertised on Instagram.

A 50-year-old pilot lost over RM1.36 million to a non-existent investment scam promoted on Instagram. Selangor police chief Datuk Hussein Omar Khan said the pilot began participating in the scheme last October, lured by promises of high returns and various benefits. The suspect provided the victim with a link to the UVKXE application website and instructed him on how to use it.

The victim was encouraged to invest as much as possible, making cash transfers totaling RM1,366,885 between October 2024 and December 2024 to 10 different accounts provided by the suspect. When the victim attempted to withdraw his funds, no money was deposited into his account. Realizing he had been scammed, he lodged a police report. Hussein advised the public to be wary of investment offers on social media platforms that promise unrealistic returns, especially those involving financial or investment applications not approved by Bank Negara Malaysia or the Securities Commission Malaysia

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