Doctor duped out of RM300k in fictitious university student card investment scheme

A MEDICAL doctor lost RM300,000 after being duped by an investment syndicate promoting a non-existent student welfare initiative known as the Kad Prihatin Siswa project.

Ampang Jaya District Police Chief Assistant Commissioner Khairul Anuar Khalid stated that the 38-year-old local female doctor and her husband first engaged with a male suspect regarding the scheme in early 2023.

He noted that negotiations took place in person and via the WhatsApp messaging application in Lembah Jaya Utara in Ampang Jaya.

"The suspect introduced the project as an investment purportedly involving 20 universities and approximately 620,000 students," Khairul Anuar said in a statement today.

"He promised lucrative financial returns to investors. Enticed by the offer, the victim transferred funds five times, totaling RM300,000, into a bank account belonging to the suspect throughout 2023," he added.

Khairul Anuar confirmed that an investment agreement was subsequently executed between the victim and the suspect, promising a monthly profit return of 10 per cent over a 12-month period, alongside full capital reimbursement upon contract maturity.

Under the terms of the agreement, the victim was registered as a 10 per cent shareholder in the company.

However, the victim never received any of the promised profits or dividends.

"The victim and her husband repeatedly requested explanations, demanded dividend payments, and asked for a copy of the stamped agreement, but the suspect offered various excuses and failed to provide a resolution," Khairul Anuar said.

Realising she had been defrauded, the victim lodged a formal police report for further action.

Khairul Anuar noted that police investigations are ongoing and no arrests have been made thus far.

"The case is being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing delivery of property," he said.

"If convicted, the offender faces a prison sentence of not less than one year and not more than 10 years, caning, and a fine," he added. - October 3, 2026