KUALA TERENGGANU – A 71-year-old retired government department director fell victim to an elaborate online investment scam, losing RM525,000 of his personal savings.
According to Kuala Terengganu District Police Chief ACP Azli Mohd Noor, the case began on May 23 when the victim responded to an investment advertisement on Facebook. He was instructed to register an account through a specific application and subsequently carried out multiple transactions.
Over the next few months, the victim made more than 100 transfers, including converting his funds into bitcoin before being told to transfer them again into unidentified accounts. Between August 20 and 27, he was further instructed to perform seven separate bank transfers.
The syndicate repeatedly promised the victim lucrative returns amounting to as much as US$500,000. However, no profits were ever paid out. Instead, the victim ended up losing his life savings.
ACP Azli said the victim never met any of the syndicate members in person, as all interactions were conducted online. Realising he had been deceived, the victim lodged a police report at 6.35 pm yesterday.
The case is being investigated under Section 420 of the Penal Code for cheating. Authorities warn that syndicates often prey on senior citizens by offering unrealistic investment returns.
Police reminded the public to remain vigilant and not to transfer money into unknown accounts or fall for schemes that guarantee quick and extraordinary profits.
This case underscores the growing threat of online scams in Malaysia, where fraudsters continue to exploit digital platforms and human trust, leaving victims devastated financially and emotionally.
📍 visit http://malaysiahariini.website
