Scam Alert: Contractor Loses RM5.9 Million to Non-Existent Investment Scheme on Facebook
Investigation Underway
Selangor police chief Hussein Omar Khan has announced that an investigation has been opened under Section 420 of the Penal Code for cheating. The investigation was triggered by a report filed by a 58-year-old contractor who lost over RM5.9 million to a non-existent investment scheme on Facebook.
The Scheme
According to Bernama, the contractor joined the scheme in September after being attracted to the impressive-sounding credentials of an advertisement by "Davidson Kempner Capital Management". The victim was instructed to download the A-Trade app via the Apple Store and was required to ensure that the amount in his account was sufficient to purchase the desired share units and make transactions according to instructions given.
The Transactions
The victim transferred a total of RM5,900,506.48 through 30 transactions into eight different company accounts in stages from September to November 2024. However, after not receiving any returns, the victim finally realized he was duped and filed a report at the Kajang police station yesterday.
The Investigation
Selangor police chief Hussein Omar Khan has confirmed that an investigation paper has been opened under Section 420 of the Penal Code for cheating. The investigation is ongoing, and the police are working to track down the perpetrators and recover the lost funds.
Prevention is the Best Measure
This incident serves as a stark reminder of the importance of being cautious when dealing with online investment schemes. It is crucial to do thorough research on the company and the scheme before investing, and to never transfer large sums of money to unknown accounts. Additionally, it is essential to verify the credentials of the company and the individuals involved in the scheme.
Conclusion
The Selangor police are taking the investigation seriously and are working to bring the perpetrators to justice. The public is urged to remain vigilant and to report any suspicious activities to the authorities. It is also important to remember that prevention is the best measure, and by being cautious and doing thorough research, individuals can protect themselves from falling victim to such scams.
FAQs
- What is the amount lost by the victim?
The victim lost over RM5.9 million to the non-existent investment scheme. - Who is behind the scheme?
The identity of the perpetrators is unknown at this time, and the police are working to track them down. - What is being done to prevent similar incidents?
The Selangor police are working to bring the perpetrators to justice, and the public is urged to remain vigilant and report any suspicious activities to the authorities. - What can individuals do to protect themselves from falling victim to such scams?
Individuals can protect themselves by being cautious and doing thorough research on the company and the scheme before investing, and by never transferring large sums of money to unknown accounts.