JOHOR BARU – A man has lost RM1.2 million after being deceived by a business partner, who invited him to invest in tourism and real estate locally and abroad.
Johor police chief Datuk Ayob Khan Mydin Pitchay, in a statement today, said the 52-year-old victim, who became acquainted with the suspect, in his 30s, in Kuala Lumpur, realised he had been cheated when the latter went missing.
He lodged a report on the matter at the Johor Jaya police station here on Thursday.
The victim handed over the money in stages from 2019 to last year, said Ayob Khan.
“He was promised dividend payments, a share ownership of 23.3%, and a return on invested capital.”
He said the investigation will be conducted under Section 420 of the Penal Code.
Ayob Khan urged the public to be wary when making investments, especially when they involve promises of high returns. – Bernama, April 3, 2021
