KUANTAN: A retiree lost over RM134,000 in savings after he fell for a non-existent investment scheme which promised returns of 3,233 per cent in six hours.
Pahang police chief, Datuk Seri Yahaya Othman said the 65-year-old man has lodged a report on the incident.
The victim first saw the advertisement for the investment scheme on Facebook on Aug 15.
He said the man was told each RM300 investment would earn him RM10,000 in six hours.
"Drawn by the lucrative offer, the victim transferred RM134,165 in 20 transactions to eight different bank accounts between Sept 10 and 19," he said in a statement.
"Investigations indicate the man used his savings to invest in the scheme."
The case is being probed under Section 420 of the Penal Code for cheating.
Yahaya advised the public to be cautious of investment schemes offering lucrative returns.
"The public is also reminded to check the bank account and telephone numbers (of those running investment schemes) on https://semakmule.rmp.gov.my before performing any transactions."