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57 Malaysians Lose RM8.7 Million in ‘Activate the Funds’ Investment Scam

1 min read
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KUALA LUMPUR: Fifty-seven Malaysians have collectively lost RM8.7 million to an elaborate investment scam that promised massive returns — including US$3 million for a RM1,000 investment.

The fraudulent scheme claimed the funds would “activate” billions in US dollars and gold allegedly held in foreign banks in the UK and Switzerland under a wealthy individual’s name. Victims were persuaded to make multiple payments after being promised extraordinary profits.

investment Scam

One victim, businessman Bakri, said he lost RM320,000 after repeatedly “topping up” his investment upon his leader’s insistence. When he sought to withdraw his funds, he was threatened with losing all his money.

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