Trader Loses Over RM160,000 In Non-existent Investment Scam

KUANTAN, Jan 27 (Bernama) -- A trader lost nearly RM166,000 after falling victim to a non-existent online investment scam earlier this month.

Pahang police chief Datuk Seri Yahaya Othman said the 26-year-old victim was keen on joining the investment and was given a link to register as a member on a website.

He said the victim was then promised returns of between six and 19 per cent on the capital invested and the man began investing on Jan 1.

"Between Jan 1 and Jan 290, he transferred his savings of almost RM166,000 into five different bank accounts provided by the suspect. He, however, became suspicious when told to make other forms of payments before he could withdraw his investments,” Yahaya said in a statement today.

He said the victim then lodged a report at the Kuantan District Police Headquarters and the case is being investigated under Section 420 of the Penal Code.

-- BERNAMA