A 45-YEAR-OLD businessman has lost RM50,000 after falling prey to an elaborate international scam involving a so-called "German External Loan Box", a fake treasure chest syndicate promising instant multimillion-ringgit returns.
The victim, who wished to be identified only as Ismail, said he regretted trusting a stranger he met online, who claimed the "treasure box" contained high-value German assets redeemable for tens of millions of ringgit.
"I lost RM50,000 because I believed the story about a German treasure chest. I deeply regret being so foolish and trusting someone I didn't even know," he said recently.
Ismail said the ordeal began in June when he befriended a man, believed to be an Indonesian national, on social media.
"He spoke so confidently, like everything was real. He said the box was a special German deposit that could be cashed out for millions. He only needed me to help pay some administration and shipping fees, which he claimed were small compared to the huge returns."
The scammer boosted the claim’s credibility by sending photos of a metal safe, complete with serial numbers and what appeared to be German banking documents. Convinced, Ismail made several transfers to local bank accounts provided by the suspect.
"In total, I transferred RM50,000. He sent me receipts and documents to make it look legitimate. But once the full amount was paid, he asked for even more money, supposedly for 'release tax', international transport charges and insurance," Ismail explained.
When he refused the additional requests, the man vanished and the promised "treasure box" never arrived.
"RM50,000 is not a small amount. It was my hard-earned money. This is the biggest lesson for me. Never trust promises of unrealistic returns. I hope my story becomes a warning to others," he said.
Investigations reveal that the German External Loan Box scam has been circulating since the early 2000s.
Scammers typically market such boxes as high-value wartime or Cold War-era assets stranded overseas and claim victims must pay for activation codes, banking documents, or release fees to access the supposed treasure. - November 15, 2025
