An insurance agent was scammed out of over RM660,000 after falling for a fraudulent investment scheme advertised on Facebook in September last year. Jempol District police chief, Supt Hoo Chang Hook, reported that the 61-year-old man invested RM666,546 after being promised lucrative returns.
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Insurance Agent Scammed Out of RM660,000 in Facebook Fraud
He used his entire Employees Provident Fund savings and borrowed money from friends. The victim made 24 transfers to five bank accounts but received no returns.
The victim filed a police report, urging the public to verify investment companies’ legitimacy before transferring money. The case is being investigated under Section 420 of the Penal Code.
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