BATU PAHAT: A former university lecturer lost RM170,000 after falling for a fake investment scheme involving kenaf tree cultivation.
The 60-year-old met someone in June 2022 who claimed to represent a kenaf planting company and promised a three per cent annual dividend.
Batu Pahat police chief Assistant Commissioner Shahrulanuar Mushaddat Abdullah Sani said the victim was persuaded to invest and signed several agreements before transferring RM200,000 in stages to the company.
The victim received a RM30,000 dividend, but payments stopped in January last year, raising suspicion.
Realising he had been scammed, the victim filed a police report yesterday.
The case is being investigated under Section 420 of the Penal Code for cheating offences.
Shahrulanuar advised the public to be cautious of investment schemes offering high returns.
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