Pensioner loses RM577,000 in bogus investment scheme

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The man was initially interested in participating in a stock investment scheme, promising lucrative profits, offered on Facebook.

: A pensioner suffered a loss of RM577,000 to a bogus investment scheme he participated in, last month.

He said that the man was then given a link to fill in his personal information. Between Oct 8 and Nov 21, the victim made 15 transactions, using his Employees Provident Fund money and his own savings, to purchase shares via the application provided. The man lodged a report at the Kuantan district police headquarters yesterday, and the case is being investigated under Section 420 of the Penal Code for cheating, he said.

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