A 73-year-old man lost RM62,109 to a fake investment scheme after receiving a text message promoting quick, high returns. The scam promised RM8,500 on a RM400 deposit within 48 hours but demanded more payments for wages and processing fees.
Senior Citizen Loses RM62,109 in Investment Scam
Believing it was legitimate, the victim used his savings to make 18 transactions across nine accounts. Upon realizing the fraud, he filed a report at Kuala Terengganu police headquarters. Police chief ACP Azli Mohd Noor confirmed the case is under investigation under Section 420 of the Penal Code. Authorities warn the public to remain cautious against such scams.
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