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Elderly man loses over RM2 million to WhatsApp investment scam
Published on: Monday, June 17, 2024
By: Bernama
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Elderly man loses over RM2 million to WhatsApp investment scam
For illustrative purposes only.
JOHOR BAHRU: An elderly accountant lost more than RM2.27 million, after being deceived by an investment syndicate promoting the purchase of shares through the WhatsApp application.

Johor police chief CP M Kumar said the 75-year-old local man lodged a police report yesterday, claiming that he was involved in the scam since Dec 19 last year.

“The WhatsApp messages he received provided information on how to invest, and promised a good return in a short time.

“Attracted by the offer, the victim followed the instructions in the messages, downloaded an application, and registered a bank account to monitor his investment,” Kumar said in a statement today.

The victim began making investments through several transactions, starting last month until the beginning of this month, with the total amount transferred exceeding RM2.27 million.

Kumar added that the victim was later informed by the syndicate that his profit had reached RM12.9 million as a result of the investment, but he was asked to pay a commission of RM1.6 million before he could access the profit.

“The victim refused to pay the commission as he suspected he had been cheated by a fake investment syndicate,” Kumar said, adding that the case is being investigated under Section 420 of the Penal Code.

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