Investment Scam Alert: Former Company Manager Loses Almost RM2 Million
A Cautionary Tale of Unscrupulous Investment Schemes
A former company manager in Selangor has become the latest victim of a non-existent investment scam, losing almost RM2 million to scammers who promised him unreasonable returns on a crypto investment plan.
The Scam
According to Selangor police chief Datuk Hussein Omar Khan, the 59-year-old victim stumbled upon a crypto investment advertisement on his Facebook page in October last year. He was added to a WhatsApp chat group called "The Miracle Of Stock Market" and was offered a crypto investment plan with a 30 to 70 per cent profit within a short time.
The victim was instructed to invest via the digzax.com website and made 41 cash transactions totalling RM2,055,944 to 11 different bank accounts between October 29 last year and January 18. He was convinced that he would reap a profit of RM46 million on the crypto platform.
The Consequences
However, when the victim wanted to withdraw his profits, he was told to make various types of additional payments, resulting in him losing the amount stated. It was only then that he realized he had been scammed.
Investigation
The case is being investigated under Section 420 of the Penal Code, and Hussein has advised the public not to be easily influenced by investment offers on social media which promised unreasonable returns, particularly through mobile phone applications not approved by Bank Negara Malaysia or the Securities Commission Malaysia.
A Word of Caution
This case serves as a stark reminder of the importance of being cautious when it comes to investment opportunities. Scammers often use social media and other platforms to lure unsuspecting victims into their traps, promising them easy profits and unrealistic returns.
It is essential to do your research and due diligence before investing in any scheme or platform. Make sure to verify the authenticity of the investment and check if it is approved by relevant regulatory bodies.
Conclusion
The loss of almost RM2 million to a non-existent investment scam is a sobering reminder of the importance of being vigilant and cautious when it comes to investment opportunities. It is crucial to educate ourselves on the warning signs of scams and to avoid falling prey to unscrupulous schemes.
Frequently Asked Questions
Q: What are the warning signs of a scam investment?
A: Some common warning signs include promises of unusually high returns, lack of transparency, and pressure to invest quickly.
Q: How can I verify the authenticity of an investment?
A: Check if the investment is approved by relevant regulatory bodies such as Bank Negara Malaysia or the Securities Commission Malaysia.
Q: What should I do if I suspect I have fallen victim to a scam?
A: Report the incident to the relevant authorities and seek legal advice.