A 47-YEAR-OLD unemployed man has lost RM310,000 after falling victim to a bogus online investment syndicate that promised unusually high returns within a short period.
Muar District Police Chief Assistant Commissioner Raiz Mukhliz Azman Aziz said the victim was enticed by an investment advertisement on YouTube in September.
He later entered his personal details into a linked application and was contacted by an unknown individual.
According to Raiz Mukhliz, the caller then introduced the victim to an investment platform that purportedly guaranteed returns of up to 30 per cent on the capital invested.
“The victim, who relies on his savings as his sole financial support, proceeded to make 17 transactions between 10 November and 5 December amounting to RM310,000,” he said in a statement.
Upon gaining access to the application, the man believed he had earned profits that had allegedly grown to RM2.5 million.
“However, he realised he had been duped when the suspect demanded an additional fee of RM382,811.60,” Raiz Mukhliz said.
The victim subsequently lodged a police report at the Muar District Police Headquarters.
Police are investigating the case under Section 420 of the Penal Code for cheating. - December 9, 2025
