Clerk in JB loses RM2.6m to investment scam

Malay Mail

KUALA LUMPUR, Dec 1 — A 49-year-old woman who clerked at a goldsmith in Johor Baru yesterday reported losing RM2.6 million to a fake investment scheme online.

According to Johor police chief Datuk M. Kumar, the woman said she saw an advertisement onlie for the investment scheme in August and was promised returns of 9 per cent for her investments when she responded.

“In mid-October 2024, the victim made an initial investment of RM100,000 as a trial and received a profit of RM12,100. The returns convinced her that the investment was legitimate and capable of generating substantial profit.

“Hoping for higher returns, between October and late November 2024, the victim transferred RM2,656,600 from her own bank account to accounts belonging to the suspects and their accomplices,” he said in a statement.

She received no further returns beyond the first, and was instead asked to provide further payments for various charges before receiving her supposed profits and capital.

Realising the irregularities, the victim lodged a report with the Batu Pahat police station on Nov 30, he said.

Police have classified the case under Section 420 of the Penal Code for cheating, which carries penalties of one to ten years of imprisonment, whipping, and a fine if convicted.

Kumar said efforts were ongoing to identify the scammers and recover the woman’s money.

Kumar then reiterated the warning for members of the public to be wary of any investment schemes promising high returns they encounter online, as most are likely fraudulent.

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