Private Company Accountant Loses Near RM444,000 to Investment Scam

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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

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