Teacher loses RM359k due to fraud
KLUANG: A school teacher lost RM359,000 after falling for a false investment scam that claimed to offer quick profits on stocks in China.
The thirty-year-old teacher had made over fifty transactions totaling about RM407,000 to a syndicate, but she received back less than 12 percent of her initial investment.
According to a police officer, the situation started a few weeks ago when the teacher saw an advertisement on social media promising investors significant returns when they invested in the Chinese Stock Exchange.
The official stated that the woman was persuaded to participate in the plan by the syndicate members and that she was “immediately put in a group offering advice and tips to newbie investors.”
It has been discovered that the woman took out all of her savings in April and May and made over 50 deposits into different accounts.
The official stated that the woman had earned more than RM48,000 in returns. “To persuade the woman to invest more, the syndicate continued to transfer some money to her, claiming that it was her gain while the principal was still intact,” the official said.
But when the woman did not receive any returns by the end of May, she started to believe something was wrong. This happened when members of the syndicate persisted in pressuring her to make more investments, claiming that Chinese stock markets were experiencing a bull run.
After that, the woman filed a police report.
Kluang OCPD Asst Comm Bahrin Mohd Noh said that the police were investigating the case under Section 420 of the Penal Code for cheating.
A 40-year-old clerk in KOTA TINGGI was tricked into believing she needed a part-time employment to support her family. She was duped out of RM200,000 by a false job scam.
It was discovered that the woman contacted someone who was posting employment online after seeing an advertisement on social media.
“The victim received a payment of RM35 in a short amount of time, which led her to believe that the job was legitimate and would assist improve the ranking of a car sales website.
The official stated that the woman sent about RM200,000 to many accounts in three days at the end of May after being tricked by the scammer into investing money to support a cryptocurrency marketing that promised enormous returns.
The official stated, “The victim only realised she had been duped when the scammer asked for almost RM10,000 to pay taxes to recover her principal and commission.” The police were looking into the allegations of deception.
In addition to constantly using the Semak Mule mobile app or visiting https://semakmule.rmp.gov.my to see if any of the bank accounts or phone numbers in question have been linked to questionable activity, he reminded the public to take caution when making significant transfers to several accounts online.