A 67-year-old private company manager has fallen prey to a sophisticated share investment scam run via a messaging group on WhatsApp
A SENIOR manager at a private firm, aged 67, has lost RM1,772,603 after being ensnared in a fraudulent investment scheme conducted via WhatsApp, Johor police confirmed.
According to Johor Police Chief Datuk M. Kumar, the victim reported the incident on 12 June, stating that he had been added to a WhatsApp group named ‘C-10 Freeman Saham 17’ in April of this year.
“The victim was promised daily returns of between five and ten per cent, depending on prevailing market prices and the amount invested,” Bernama cited Kumar saying in a statement issued last night.
Lured by the seemingly lucrative offer, the pensioner made 12 bank transfers to five separate accounts between 16 April and 30 May, totalling RM1,772,603.
However, the promised profits never materialised. Instead, the scammers demanded an additional payment of nearly RM500,000 — a request that aroused the victim’s suspicions and ultimately led him to suspect fraud.
“To date, the victim has not received any of the returns as promised, resulting in a total loss of RM1,772,603,” Kumar stated. The case is currently under investigation under Section 420 of the Penal Code, which deals with cheating.
Kumar cautioned the public to remain vigilant and not to be swayed by investment offers circulated on social media, particularly those guaranteeing high returns with little effort over a short period.
He advised the public to confirm the legitimacy of any investment scheme with the relevant authorities, such as the Royal Malaysia Police, Bank Negara Malaysia, or the Securities Commission.
“In addition, make use of the SEMAK MULE service to check the status of bank accounts and phone numbers before making any payments,” he said.
Police further urged citizens to stay abreast of trends in commercial crime to avoid becoming victims, and recommended following the official social media accounts of the Commercial Crime Investigation Department on Facebook, Instagram, and TikTok for updates on criminal tactics. - June 17, 2025
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