Online Investment Scam Costs Retiree RM367,950

KUALA TERENGGANU, Oct 5 – A 70-year-old government retiree lost RM367,950 after falling victim to a non-existent online investment scheme operated by a syndicate, Kuala Terengganu police confirmed.

Kuala Terengganu District Police Chief ACP Azli Mohd Noor stated that the scam originated on July 31, 2026, when the victim received a WhatsApp message from a woman identifying herself as “Via.”

The suspect initially claimed she had messaged the wrong number by mistaking the victim for a contractor acquaintance before using the opportunity to initiate regular conversations with him.

Modus Operandi and Financial Losses

As rapport built over several weeks, the suspect convinced the retiree to participate in an investment scheme marketed as a retirement income generator.

Key details regarding the fraudulent scheme include:

• Initial Baiting: The victim made three small initial investments and successfully received the promised returns, establishing trust in the platform.
• Escalated Transfers: Between August 22 and September 30, the victim executed 72 separate transactions across 13 different bank accounts acting as intermediary accounts, channeling a total of RM367,950 from a recent land sale.
• Fabricated Returns: The suspect eventually informed the victim that his account balance on the investment dashboard had surpassed RM800,000 in accumulated capital and profits.

Demands for Processing Fees Lead to Police Report

The fraud was uncovered when the syndicate demanded an additional processing fee payment of RM80,765 before allowing the victim to withdraw his funds.

Realizing he was being scammed, the retiree refused to pay the withdrawal fee and lodged an official report at the police station at 11:49 AM on Sunday, October 4.

Police confirmed that the case is under active investigation under Section 420 of the Penal Code for cheating.

–NMT