JOHOR BARU: A 61-year-old retired New Zealander lost RM216,000 in a fake online investment just 23 days after transferring his savings to a company bank account, with police saying the case may involve mule accounts and action will be taken against those facilitating such frauds.
The Kiwi man who lodged a police report yesterday, told police how he was lured into the investment by a man who introduced himself as 'Wong', who contacted him on Oct 2.
Johor Baru (North) police chief, Assistant Commissioner Balveer Singh said the suspect had introduced the victim to an investment website, which promised a monthly returns up to three per cent on the invested capital.
The victim made 27 online cash transfers to the company account amounting to RM216,000 between Oct 3 and 25.
However, after a month, when he attempted to withdraw his profits, Wong had requested for additional funds, which he refused.
He soon realised that he was conned and lodged the report.
Balveer said investigations are ongoing under Section 420 of the Penal Code for cheating, which carries a maximum penalty of 10 years in prison, whipping, and fines upon conviction.
"The case may involve mule accounts. We will take action against the account holder facilitating such frauds," he said in a statement today.