ALOR STAR: A retired nurse lost over RM1.9 million after making 20 transactions for a fraudulent investment scheme she found on YouTube.
The 76-year-old woman began depositing money into the scheme in June. She finally lodged a police report yesterday.
Kedah Commercial Crime Investigation Department (CCID) chief Superintendent Loi Yew Lik said the victim was initially lured by company representatives who detailed the investment through online classes.
"The victim made an initial payment of RM100,000 on June 17. Following this, she proceeded to make an additional 19 transactions into various bank accounts provided, totalling RM1,902,070, but received no returns.
"She was promised profits within a month, but as of the time she lodged the police report, she had not received any returns. The victim then became suspicious and feared she had been scammed," he said in a statement today.
Police investigations confirmed the investment scheme was a fraud, deceitfully operating under the name of Capital Dynamic, an international investment firm.
The case is being investigated under Section 420 of the Penal Code for fraud.