KUALA TERENGGANU: An entrepreneur's dream of owning a resort became a costly nightmare after investing RM500,000 into a non-existent development.
District police chief Assistant Commissioner Azli Mohd Noor said the 44-year-old victim was offered the opportunity to invest in the resort in August 2020 by a woman named 'Janah'.
The entrepreneur was told the resort would be built on Pulau Perhentian, and that an investment of RM500,000 would see annual returns of RM394,020.
"The victim was drawn by the prospect of lucrative returns and agreed. The entrepreneur signed an agreement and paid over RM500,000 in stages," he said in a statement.
Years passed yet the victim did not see the expected profits while 'Janah' could no longer be contacted.
Suspecting something amiss, the entrepreneur decided to investigate and found no such resort was being built on the island as claimed.
The victim has since lodged a police report.