KULAI: A 45-year-old trader fell victim to a fraudulent investment scheme, losing RM544,200 after being enticed by promises of high returns within just days.
The victim filed a police report yesterday after his attempts to withdraw RM9.39 million in profits from the fake investment application were blocked.
District police chief Assistant Commissioner Tan Seng Lee said that the victim came across the investment opportunity through a Facebook advertisement last month.
Interested, he clicked on the ad and was subsequently contacted by a woman who added him to a WhatsApp group called "Group Saham Malaysia".
He said the woman lured him with promises of profits ranging from three per cent to as high as 120 per cent within three days.
He was then instructed to download an application called "Cap Max", which he did without hesitation.
Between Nov 25 and Dec 12, the victim made seven online transfers totalling RM544,200 to four different local bank accounts.
His "Cap Max" account showed a profit of RM9.39 million.
However, when he attempted to withdraw the funds, he discovered that his account had been blocked.