JOHOR BARU: The promise of lucrative returns lured a 74-year-old retiree into an investment scam, costing him more than RM160,000 of his savings.
Johor Baru South OCPD ACP Raub Selamat said the man received a WhatsApp message from a woman claiming to be “Jane Chong” while at his home in Woodlands Drive, Singapore.
The victim was invited to join an alleged Malaysia-based stock trading group, where he was shown how to increase share values and promised high returns of up to 10% of the capital invested.
He was told to deposit money into bank accounts provided by the group and assured that his profits would be credited directly into his bank account within a week.
The victim, who used to work in the private sector, believed the claims and made 18 transactions into three different bank accounts under different names, totalling RM160,250.
One of the bank accounts had six Central Credit Reference Information System (CCRIS) records, while the other two each had one record.
Despite making the payments, the victim apparently made a profit of RM20,000.
He was asked to make additional deposits to enable him to withdraw the profits.
The victim realised he had been cheated and lodged a police report here on Saturday (Sept 6).
Initial checks through the CCRIS system found that the phone number used by the suspect did not have any prior scam records, but is suspected to have been misused for fraudulent purposes.
Further investigations are underway, including obtaining details of the bank accounts involved, recording statements from bank representatives, conducting checks with telcos to identify the owner of the phone number and tracking down the suspects.
The case is being investigated under Section 420 of the Penal Code, which carries a jail term of between one and 10 years, whipping and a fine upon conviction.
ACP Raub advised the public to be cautious of investment offers received through social media or WhatsApp and to verify information via the official “Semak Mule” portal before making any payments.
They should not be easily swayed by promises of extraordinary returns within a short period and must immediately contact the National Scam Response Centre at 997 to report any suspicious activities.
Legitimate investments will never require payments into personal bank accounts or guarantee unrealistic profits in a short timeframe, he said.
