BATU PAHAT, Oct 4 (Bernama) -- A former lecturer of an institution of higher learning (IPTA) lost RM170,000 after becoming a victim of a non-existent kenaf cultivation investment.
Batu Pahat district police chief, ACP Mushaddat Abdullah Sani, said the victim, 60, reportedly met a man who claimed to be a representative of a kenaf cultivation company in June two years ago.
He said, in the meeting throughout that period, the individual involved offered the victim an investment in planting kenaf which promises a dividend of three per cent every year.
"The victim who was attracted and interested in the investment finally signed several agreement documents and on the same date, the victim transferred money into a bank account of the company in stages amounting to RM200,000.
"From the total investment, the victim received a dividend of RM30,000 but since January last year, the man no longer received what he was promised," he said in a statement today.
He also said that the victim began to suspect being cheated before making a report at the Batu Pahat district police headquarters (IPD), yesterday.
"The investigation is still ongoing and the case is being investigated under Section 420 of the Penal Code," he said.
-- BERNAMA
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