Terengganu police chief Deputy Comm Datuk Mohd Khairi Khairudin said the 67-year-old victim came across a Facebook advertisement promoting a stock investment and was interested in participating in the scheme, which was allegedly based in China.
"The victim, who was promised high profits within a short period, was then asked to make three payments amounting to RM100,000 Mohd Khairi said the victim, who became increasingly convinced of the scheme's legitimacy, invested RM240,000 to purchase stocks, with payments made in stages to various bank accounts.
"After making the payment, the victim was asked to pay RM1.7mil in taxes, which he did at a local bank counter.
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