KUANTAN, Oct 11 – A 65-year-old retired teacher lost more than RM1.1 million after falling prey to a fake stock investment scheme advertised on TikTok.
Pahang Acting Police Chief Datuk Azry Akmar Ayob confirmed in a statement on Sunday, October 11, 2026, that the victim lodged a police report at the Pekan District Police Headquarters after failing to receive any promised financial returns.
According to police reports, the victim initially encountered an investment advertisement on TikTok before being redirected to communicate via WhatsApp with an individual claiming to represent a legitimate investment firm.
Transaction Details, Modus Operandi, and Police Investigation
The suspect manipulated the retired educator through structured financial market presentations and repeated payment demands:
- Manipulative Pitch: The victim was given detailed briefings on stock investments and financial market analysis by the scammer to build trust and credibility.
- Multiple Bank Transfers: Between August 21 and October 7, 2026, the senior citizen executed 22 separate transactions into six different bank accounts using both online banking and over-the-counter financial services.
- Escalating Financial Demands: Scammers continued to demand additional payments even after the victim had transferred over RM1.1 million, prompting him to realize he had been cheated.
- Statutory Investigation: Police have classified the case under Section 420 of the Penal Code for cheating, which carries a penalty of imprisonment, whipping, and fines upon conviction.
Police have advised the public to verify investment platforms with Bank Negara Malaysia and the Securities Commission Malaysia before making any fund transfers.
–NMT
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