Man loses RM1.2mil after being conned by business partner

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JOHOR BARU: A 52-year man suffered losses of up to RM1.2mil after being conned by his own business partner.

Johor police chief Comm Datuk Ayob Khan Mydin Pitchay said that the police received a report from the victim at about 3.50pm on Thursday .

"The suspect, who is the victim's business partner, had lured him into investing in a company that is said to be involved in the tourism and real estate business. "The victim was told that he would receive dividend returns, own 23.3% stock in the company as well as get the money he had invested back," he said in a statement released here on Saturday ."The victim noticed that he was conned after the suspect went missing with the money," he said, adding that the case is being investigated under Section 420 of the Penal Code for cheating.

Comm Ayob urged the public to be careful and alert on such investments, especially those that promise high returns."Check whether the offer is legit, especially when transactions are made without meeting face to face," he said.

 

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