Man cheated over RM200,000 in investment scam

SIBU: A man lost RM202,000 after he was hired to invest in an equity investment scheme.

OCPD Asst Comm Zulkipli Suhaili said police received a report from the victim, aged 50, on Monday (October 21).

“The victim, who works in the private sector, alleged that he was defrauded through a non-existent stock investment,” he said in a statement on Tuesday (Oct 22).

ACP Zulkipli said that on August 9, the victim received a message on WhatsApp from a representative of an investment company offering him the opportunity to earn high returns through the ‘Boci International Investment Club’, which aroused his interest.

The victim was then added to a WhatsApp group where investment discussions were held.

Later, he was instructed to download an app as an investment platform.

“Between September 26 and October 11, the victim made 13 transactions amounting to RM202,000 in three local bank accounts,” he said.

He then contacted the representative on October 21 to inquire about withdrawing the winnings, but several excuses were given, ACS Zulkipli added.

The victim felt that something was wrong and that he may have been scammed and reported the incident to the police.

ACP Zulkipli said police have opened an investigation under Article 420 of the Criminal Code for cheating.