Company manager loses over RM400,000 to non-existent investment scam

Police said the 51-year-old man dealt with several unknown individuals via the WhatsApp application and carried out cash transactions from March 21 until May 12. — UnsplashA private company manager lost RM401,075 after falling victim to a non-existent online investment scheme.

Seremban police chief ACP Mohamad Hatta Che Din said the 51-year-old man dealt with several unknown individuals via the WhatsApp application and carried out cash transactions from March 21 until May 12. "The victim made 19 cash transactions using his own money. The man lodged a police report yesterday after realising that he had been duped,” he said in a statement today.According to him, non-existent online investment scams are among the cases with the highest losses compared to other cases for the first quarter of this year.

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Company manager loses more than RM400,000 to non-existent online schemeEver since Congress passed a bill that would force Chinese company ByteDance to sell or shut down TikTok, one of the biggest questions has been: Who could buy it, given technological, political and financial considerations?
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