The victim was given an explanation about this investment, which promised returns of between 20 to 30 percent over one to eight days based on the amount of capital invested - November 18, 2025
57-year-old technician duped into transferring funds to multiple accounts after promising high returns on social media investment scheme
A 57-YEAR-OLD technician has fallen victim to an online investment scam, losing more than RM600,000 after being lured by promises of unusually high returns.
The incident began in September when the man saw a social media advertisement promoting a stock investment platform offering profits of 20 to 30 percent within one to eight days.
According to Penang Police Chief Datuk Azizee Ismail, the victim was contacted by a woman through a messaging application and later added to the investment group.
“The victim was given an explanation about this investment, which promised returns of between 20 to 30 percent over one to eight days based on the amount of capital invested. Initially, he invested RM300 and earned RM32,200, which encouraged him to trust that the platform was legitimate,” Datuk Azizee said in a statement.
The victim subsequently increased his investment to RM200,000 after the perpetrators claimed he had earned profits of RM700,000. When he attempted to withdraw his purported gains, he was told to pay taxes and processing fees.
“From September 5 to November 11, the victim made 62 transactions into 36 different bank accounts, with a total investment exceeding RM600,000. However, he eventually realised he had been deceived, as he was unable to access his profits and was repeatedly asked to make further payments, raising suspicions,” he added.
The victim lodged a police report at the Seberang Perai Utara District Police Headquarters yesterday. The case is being investigated under Section 420 of the Penal Code for cheating. - November 18, 2025
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