KUCHING: A 66-year-old woman has fallen victim to a non-existent investment scam, resulting in a staggering loss of RM1.5 million.
The incident came to light after the victim, who is a director of a real estate company, lodged a police report yesterday (May 30), where she detailed the fraudulent scheme which promised high returns on investment.
Police Commissioner Datuk Mohd Azman Ahmad Sapri said the ordeal began in early April when the victim had connected through Facebook, with a Singaporean man, claiming to be working in Hong Kong.
“Over the course of a week, the two communicated extensively on WhatsApp and the victim eventually developed a romantic interest in the acquaintance.
“Exploiting the victim’s trust, the suspect lured her into a supposed business investment opportunity promoted on TikTok.
“The allure of a substantial nine per cent return on investment piqued the victim’s interest, prompting her to agree to participate in the venture,” he said.
To initiate the investment, the victim was instructed to transfer money to various bank accounts.
He said the victim, between April 14 and May 29, transferred a total of RM1.5 million to 21 different bank accounts via 185 transactions.
Mohd Azman said that despite her substantial investments, the victim never received any returns from the promised investment scheme.
It was, at this point, that the victim began to suspect foul play and realised that she had been deceived.
Mohd Azman said cheating and dishonestly inducing delivery of property is a criminal offence under Section 420 of the Penal Code.
It carries a jail term of up to 10 years, and whipping, and the offender is liable to a fine, upon conviction.
