KULAI: A businesswoman claims to have lost RM86,590 after being duped by a syndicate offering a non-existent initial public offering (IPO) investment scheme.
Kulai OCPD Asst Comm Tan Seng Lee said the 35-year-old local woman was interested to invest in the scheme when promised a profit between 30% and 40% within 24 hours.
“The victim claimed that the profits would be credited into her investment account app,” he said in a statement Friday (Sept 19).
An IPO is when a private company first sells shares of its stocks to the public, transitioning from private to public ownership and becoming a publicly traded entity on a stock exchange.
ACP Tan said the victim made 14 transactions amounting to RM86,590 into two local bank accounts between Aug 5 and Sept 12, this year.
He said upon completing the transactions, the victim checked into her app account and found she had made RM137,043 in profit as displayed on the screen.
“The victim wanted to withdraw the profit but her account was blocked,” ACP Tan said, adding that the victim then realised she had been hoodwinked by a syndicate.
He said the case is being investigated under Section 420 of the Penal Code.
ACP Tan reminded the public to be alert and careful especially in matters involving financial transactions when dealing with unknown persons.
The public can also can go to Semak Mule, CCID Scam Response Centre at 03-2610 1559 or 03-2610 1599 or go to Facebook @jsjkpdrm and @cybercrimealertrmp
Scam victims are advised to call the National Scam Response Centre at 997 to report their case
