65-year-old Man Loses RM668,800 To Investment Scam

JOHOR BAHRU, Jan 14 (Bernama) -- A 65-year-old man suffered losses amounting to RM668,800 after falling victim to a syndicate offering a non-existent share investment scheme which promised lucrative returns.

Kulai police chief, ACP Tan Seng Lee, said that police received a report from the victim yesterday, who claimed he was deceived by an investment offer promoted through a mobile phone application known as JBS Shop, which promised profits of between 10 and 20 per cent within 24 hours.

Attracted by the promised returns, he said the victim made 25 payment transactions into 17 different local bank accounts between Nov 28, 2025 and Jan 6.

“The victim later checked the application and found that the purported profits amounted to USD102,303.64 (approximately RM415,000). However, when he attempted to withdraw the funds, the transaction was blocked.

“Realising that he had been cheated, the victim lodged a police report, and the case is being investigated under Section 420 of the Penal Code. The police urge the public to remain vigilant and not be easily deceived by investment schemes offering high returns within a short period,” he said in a statement today.

-- BERNAMA