Man Loses RM544,200 in Cap Max Investment Scam

  • 📰 staronline
  • ⏱ Reading Time:
  • 33 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 75%

Crime News

INVESTMENT SCAM,FACEBOOK,CAP MAX

A Malaysian man lost a significant sum of money after falling victim to an investment scam involving the Cap Max app advertised on Facebook.

A 45-year-old man in Malaysia reported being the victim of an investment scam after losing RM544,200. He was lured into the scheme through a Facebook advertisement for an app called Cap Max, which promised returns of 3% to 120% within three days. He was then contacted by a woman who added him to a WhatsApp group and instructed him to download the app.

He made seven payments to four local bank accounts between November 25 and December 12, believing he would receive profits in his Cap Max account. However, after making a “profit” of over RM9.3 million, his account was blocked when he tried to withdraw the funds. The case has been classified under Section 420 of the Penal Code for cheating. Police advise the public to be wary of investment and online job offers promising high returns with easy methods. They urge people to utilize resources like Semak Mule, the CCID scam response center, CCID infoline, or the National Scam Response Centre at 997 for information before making any payments

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:

 /  🏆 4. in SG
 

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

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Elderly man loses RM1.5mil to stock investment scam in Johor(Reuters) - Thanasi Kokkinakis and Nick Kyrgios will team up for doubles at next month's Australian Open, and the entertaining local duo is aiming to dazzle crowds at the Grand Slam again.
Source: staronline - 🏆 4. / 75 Read more »

JB man loses RM35,000 in investment scamBEIJING: A stampede at a middle school in China's northwestern Xinjiang region has left 14 people injured, according to local authorities.
Source: staronline - 🏆 4. / 75 Read more »