GEORGE TOWN: A 60-year-old retiree from the private sector has fallen victim to an online investment scam involving a platform known as Silver Peak Capital, resulting in losses amounting to RM680,000.
The victim has lodged a police report, and the case is being investigated under Section 420 of the Penal Code for cheating.
State police chief Datuk Hamzah Ahmad said the woman claimed in her report that she first encountered an investment advertisement related to stock trading via the Facebook app in early February.
She subsequently began communicating with a suspect via WhatsApp.
“The investment scheme promised returns of between 10 and 20 per cent of the invested capital within a short period,” Hamzah said in a statement today.
“Keen to take part, the victim was instructed to download an app called Silver Peak CP, register as a member, and begin investing.
“She then proceeded to make seven fund transfers to five different bank accounts. The victim only realised she had been scammed when she ran out of funds and was told she needed to pay a commission fee to withdraw an alleged profit of RM11 million, as displayed on the Silver Peak CP app.”
Following this, she filed a police report to initiate an investigation.
In a separate case reported yesterday, a 60-year-old private sector clerk lost RM685,000 in a similar scam involving an app called Q Toff.
The scam was uncovered when the victim attempted to withdraw RM1.4 million in supposed profits, only to be told she needed to pay 10 per cent of the earnings before any funds could be released — prompting her to realise she had been conned.
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