Oct 31
GEORGE TOWN: A 53-year-old sales officer lost nearly RM2 million after falling victim to an online investment scam that falsely used the name Merrill A Bank of America Company.
Police said the victim, who works for a private company here, lodged a report after realising she had been duped into transferring RM1,974,000 into several bank accounts.
State police chief Datuk Azizee Ismail said the victim came across a stock investment advertisement on Facebook in mid-August.
He said the ad promised exceptionally high returns of between 150 and 200 per cent within two weeks.
“She later contacted a woman, believed to be the suspect, through WhatsApp and was invited to join a WhatsApp group named Merill. The victim was told to download an application called MML Max to register as a member and begin investing.
“Between Sept 6 and Oct 28, she made 35 separate transactions into six different company bank accounts, believing the scheme was legitimate,” he said in a statement.
Azizee said the woman only realised she had been cheated when she attempted to withdraw her profits through the app but was told she needed to make additional payments first.
“After failing to withdraw her money, she became suspicious and lodged a police report,” he added.
The case is being investigated under Section 420 of the Penal Code for cheating.
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