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Pilot Loses RM1 Million to Fake Investment Scheme via Instagram

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CRIMINAL News

INVESTMENT SCAM,INSTAGRAM,FAKE INVESTMENT

A Malaysian pilot lost over RM1 million to an investment scam after being lured in through an Instagram advertisement. The platform promised high returns with no specific guarantees, leading the victim to deposit substantial sums.

A pilot from Selangor lost over RM1 million after falling victim to a fake investment scheme. The 50-year-old pilot was introduced to the scheme through an Instagram advertisement. He was encouraged to invest as much as possible for higher dividends and perks, without being promised specific returns. The victim was directed to use the UVKXE platform for trading and deposited a total of RM1,366,885 between October and December 2024.

He only received RM4,300 in returns, despite investing a substantial amount. The platform then informed him that he could withdraw any amount by pressing a button and the funds would be deposited within 24 hours. However, no money was credited to his account after he made withdrawal requests. The pilot then lodged a police report after realizing he had been deceived. Selangor police chief Comm Datuk Hussein Omar Khan has warned the public to be cautious of investment scams on social media offering unrealistic returns

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