Elderly businessman loses RM3.8 mil to ‘IMF grant’ scam

JOHOR BARU – Enticed by an offer of an International Monetary Fund (IMF) assistance grant to the tune of US$150,000 (RM605,000), an elderly businessman parted ways with RM3.8 million over the course of July to December last year.

Relating the case, Johor Commercial Crime Investigation Department chief Mohd Salleh Abdullah said the 74-year-old victim became acquainted with a man going by the name of “Freddie Khoo” on Facebook before continuing their friendship via WhatsApp.

Salleh said “Freddie Khoo” offered the supposed US$150,000 in IMF assistance to the businessman and asked the latter to make an advance payment first before he could get the financial aid.

“The victim made an initial payment of RM12,800. Thereafter, the suspect raised the grant amount to US$900,000 (RM3.63 million) so that he would pay more to secure it.

“From July till December last year, the victim made 64 transactions into 10 bank accounts totalling RM3,811,300 only to be told by the suspect that the grant had been terminated and that he (victim) had to make a fresh application,” he said in a statement here today.

Salleh said the victim felt cheated on not getting the grant as promised and subsequently lodged a police report at the Tampoi police station on Sunday.

Adding that police were investigating the case, he advised the public not to easily believe individuals they had only just met and to check their backgrounds first, in cases like this with Bank Negara. – Bernama, February 15, 2021