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Johor man loses RM444,000 in fake stock scheme, while elderly New Zealander falls victim to bogus investment plan

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Arcadia,Police,Commercial Crime Cases

JOHOR BAHRU, Nov 29 — An account manager of a private company lost RM444,000 to a stock investment scam that promised multiple profits allegedly using the ‘Arcadia Equity’...

Johor man loses RM444,000 in fake stock scheme, while elderly New Zealander falls victim to bogus investment plan

Johor Bahru South district police chief ACP Raub Selamat said the 53-year-old local man lodged a police report yesterday claiming he was first contacted by a man claiming to be a stock investment consultant who invited him to invest in the stock market in July. “After doing so, the victim found that his investment account showed a very high profit of RM3,163,460.43,” he said in a statement today.

In another case, an elderly New Zealander lost his savings of RM216,000 to a non-existent investment scheme last month.

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