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Terengganu Businessman Loses RM210,000 to Social Media Investment Scam

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Crime News

INVESTMENT SCAM,SOCIAL MEDIA,FRAUD

A Terengganu businessman lost a significant sum of money after falling victim to a fraudulent investment scheme advertised on social media.

A 31-year-old businessman from Terengganu lost RM210,976.50 after falling victim to a non-existent investment scheme on social media. Acting Kemaman District Police Chief DSP Wan Muhamad Wan Ja’afar said today the man had joined the scheme through a website last November. He made 13 transactions to 11 different accounts between November 4 and December 10, totaling the lost amount. The victim was promised high returns by the scheme, but after some time, he did not receive them.

Feeling cheated, he lodged a police report yesterday evening. Wan Muhamad advised the public to verify investment opportunities through official sources, including the Securities Commission and Bank Negara Malaysia, before making any investment

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