Retiree Loses RM132,590 in House Sale Proceeds to Fake Investment Scam

IPOH: Police have confirmed that a retiree lost RM132,590 from the proceeds of selling his house after falling victim to a fraudulent online foreign exchange investment scheme on July 4.

Hilir Perak District Police Chief ACP Chua Kok Lian said the 73-year-old man lodged a police report yesterday.

“Preliminary police investigations found that the victim was introduced to a foreign exchange investment scheme by an acquaintance who promised high returns. Attracted by the offer, the victim decided to join the investment scheme.

“The victim invested money in stages over approximately two months, involving a total of RM132,590,” he said in a statement.

Chua said the victim began to realise he had been scammed when the investment platform became inaccessible on September 14.

The victim also failed to receive any profits or the return of his initial investment as promised.

He said the case is being investigated under Section 420 of the Penal Code, while further investigations are ongoing to identify the individuals involved in the fraudulent scheme.

BERNAMA