A teacher has become the latest victim of an online stock investment scam, suffering a financial loss exceeding half a million ringgit. Penang Police Chief Datuk Hamzah Ahmad reported that the Seberang Perai Selatan District Police Headquarters’ Commercial Crime Investigation Division received a complaint from a 47-year-old victim, who claimed a syndicate had deceived him out of RM511,000.
According to Hamzah, the victim noticed an advertisement for a stock trading investment on Facebook in February. Following this, the victim communicated with the suspect via WhatsApp and was subsequently added to an investment group named ‘Destiny On Your Hand’.
Within this group, detailed explanations regarding the investment were provided to the victim, promising high returns on the invested capital within a short timeframe. These explanations enticed the victim to invest.
Hamzah stated that the victim was instructed to download an app through a provided link in order to register as a member. The victim proceeded to make 12 transactions to three different bank accounts.
The victim realised he had been scammed when he was unable to withdraw both his capital and the purported profits through the link supplied, leading him to report the matter to the police. Investigations are ongoing, with the case being handled under Section 420 of the Penal Code for cheating.
