MIRI: The police here received two reports concerning fraudulent investment schemes last Saturday.
Miri Police Chief OCPD ACP Alexson Naga Chabu said the first incident involved a housewife in her 40s who fell victim to a scam after responding to an investment advertisement posted by K.A.F Investment on Facebook, promised substantial returns.
“She had made a funds transfer amounting to RM2,800 to a bank account provided by the fraudster,” he said.
In the second case, a local man in his 30s suffered a loss of RM5,500 due to a counterfeit investment scheme called TFS Price Action Trading through the Telegram application, which falsely claimed to be a stock market opportunity.
Both cases are currently under investigation under Section 420 of the Penal Code for fraud.
