Private Company Accountant Loses Near RM444,000 to Investment Scam

  • 📰 theSundaily
  • ⏱ Reading Time:
  • 19 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 46%
  • Publisher: 51%

Crime News

Investment Scam,RM444,000

A company accountant in Malaysia lost nearly RM444,000 to an investment scam that promised high returns through a stock investment scheme. The scam involved a WhatsApp group and false promises of high returns, leading the accountant to report the incident to the police.

A company accountant turned white-eyed when nearly RM444,000 went missing after he fell for a promise of multiplying profits through a stock investment scheme conveyed via an application in July. According to the report, the man was contacted by a man who claimed to be a stock investment advisor, who introduced him to a WhatsApp group. The accountant made investments amounting to RM444,000 via an application.

He faced high returns initially, but eventually, when trying to withdraw profits, he was asked for a 10% commission or RM289,000. Unable to make this payment and further warned by a group member to close his investment, he reported the incident to the police. The case is being investigated under Section 420 of the Penal Code for cheating on a non-existent investment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Johor man loses RM444,000 in fake stock scheme, while elderly New Zealander falls victim to bogus investment planJOHOR 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’...
Source: malaymail - 🏆 1. / 86 Read more »