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Singaporean engineer loses RM1.9 million in online investment scam

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A 64-year-old Singaporean engineer lost RM1.9 million in an online investment scam after being lured by a fraudulent Facebook ad

: A 64-year-old Singaporean engineer fell victim to an online stock investment scam, losing RM1.9 million of his savings.

After clicking on the provided link, the man was added to a WhatsApp group where he received investment details. He then realised he had been scammed when unable to withdraw the profits displayed in the app and was asked to make additional payments to recover his initial capital.Offenders under Section 420 face imprisonment of one to ten years, whipping, and possible fines, while Section 411 carries a sentence of up to five years’ imprisonment, a fine, or both.

 

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