Businessman loses RM800,000 in bogus investment scheme

BATU PAHAT: Instead of making millions in profit, a businessman lost more than RM800,000 of his own money to a fraudulent investment scheme.

"According to the victim, on 23 September this year, he saw an advertisement for an investment scheme promising high returns on Facebook and became interested," he said. ACP Shahrulanuar Mushaddat added that between Nov 8 and Dec 17, the victim deposited money into two different bank accounts in phases, totalling RM823,000.

He did not make further payments and became suspicious about the legitimacy of the investment scheme, realising he had been cheated.

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