Electrician loses RM150,000 in fake investment scheme
A 48-year-old electrician in Malaysia lost RM150,000 after being lured into a fraudulent investment scheme via WhatsApp. The victim was initially tricked by small, fake returns before being pressured to invest larger sums.
Why it matters
This case serves as a warning about the prevalence of sophisticated online investment scams targeting individuals with promises of high returns.
KUALA TERENGGANU: An electrician lost RM150,000 after falling victim to a non-existent investment syndicate early in early July.
Kuala Terengganu police chief ACP Azli Mohd Noor said the 48-year-old victim received a WhatsApp message on July 3 from a woman promoting an investment scheme.
He said the suspect persuaded the victim to participate by promising substantial returns within a short period.
"Initially, the suspect instructed the victim to make five small investments and credited him with the promised returns. This was done to convince the victim that the scheme was genuine and profitable.
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