◉ HEADLINES

Farmer loses over RM100,000 after falling to investment scam

Victim says he joined scheme through WeChat, told to purchase ‘points’ for profit

3:42 PM MYT

 

KUANTAN – A vegetable farmer’s wish for a quick profit turned into a disaster when he lost RM108,344 after an investment scheme he joined turned out to be nonexistent. 

Pahang police chief Datuk Seri Yahaya Othman said the 34-year-old victim claimed to have joined the investment through a WeChat application last Wednesday (August 30). 

“The investment only required the victim to purchase ‘points’ to gain profits, which attracted him, and he continued to participate because he was promised substantial returns. 

“The victim eventually made seven payment transactions through online fund transfers to four accounts provided by the suspect,” he said in a statement today. 

The victim realised he was deceived after not receiving any profits despite investing a significant amount, leading him to file a report at the Cameron Highlands Police Headquarters yesterday, Yahya added. 

The public is advised to be cautious and not easily influenced by investment schemes promising easy and substantial profits. They should verify account numbers received through social media links to avoid falling victim to scams. – September 3, 2023

Topics

 

◉ Popular

Over 23.6 million to benefit as new electricity tariff kicks in July 1

The Energy Commission has set a new average base tariff of 45.40 sen/kWh for RP4, slightly lower than before, bringing overall electricity costs down by up to 19% compared to the previous regulatory period

FashionValet a loss-making entity before and after Khazanah, PNB’s RM47 mil investment

GLICs bought stakes in 2018, company records show total RM103.3 million losses after tax from 2017 to 2022

FAM at 99: a journey from colonial roots to Malaysia’s football milestones

The Football Association of Malaysia (FAM) marks its 99th anniversary today, tracing a journey from its colonial-era beginnings in 1926 to becoming the custodian of Malaysian football

◉ Related