KUALA TERENGGANU: An elderly businessman lost RM704,000 after falling victim to a non-existent investment scheme.
Acting Kemaman police chief Deputy Superintendent Wan Muhamad Wan Ja'afar said the 73-year-old man had spotted an advertisement on WhatsApp last month for an investment promising high returns within a short period.
Attracted by the offer, the victim made 10 transactions to three different accounts between Nov 4 and Dec 5, following the suspect's instructions.
"However, he has yet to receive any promised returns. Feeling deceived, the victim lodged a police report at 3pm yesterday," he said when contacted today.
The case is being investigated under Section 402 of the Penal Code.
Wan Muhamad reminded the public to seek reliable information from official sources, such as Bank Negara Malaysia and the Securities Commission Malaysia, before participating in any investment schemes. – BERNAMA