An unemployed man lost more than RM174,000 after being deceived by a non-existent investment scheme in Kuala Ketil, Baling, for the past six years.
Head of the Commercial Crime Investigation Department of Kedah police, Supt Loi Yew Lik, said the 33-year-old victim was introduced to the investment scheme by a friend and invested RM10,000 starting in December 2018.
Investment Scam: Man Lost RM174,000
“The complainant then made 21 more capital payments to the same bank account amounting to RM174,270 and did not get any profit. He was promised a profit within a month, but until the police report was made (now), the complainant has yet to receive any returns. He began to suspect he has been cheated,” he said in a statement here today.
The victim lodged a report at the Kuala Ketil police station at 5.49 pm yesterday.
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