KUALA LUMPUR: Police are investigating an investment fraud case involving a 67-year-old retired private sector employee who lost RM1.7 million.
Selangor police chief Datuk Hussein Omar Khan said the victim was lured in August last year through a Facebook advertisement promoting a stock investment scheme called “UVKXE Investment.”
The victim was added to a WhatsApp group managed by individuals identified as Prof. Lim and Branda Ng, who promised high returns on investments in both local and international markets.
The victim was instructed to transfer funds through 16 transactions involving six different bank accounts.
In October, the victim was further persuaded to invest in Bitcoin and cryptocurrency.
However, the victim soon realised he had been scammed when he failed to receive the promised returns.
Hussein confirmed that an investigation has been launched under Section 420 of the Penal Code, for cheating and dishonestly inducing the delivery of property.
The text is clear and mostly well-written. Here’s a slightly refined version for improved readability:
Authorities are reminding the public to be cautious of online investment schemes that promise unrealistic returns, particularly those not approved by Bank Negara Malaysia (BNM) or the Securities Commission Malaysia (SC).
The public is advised to contact the National Scam Response Centre (NSRC) at 997 for verification, advice, or to report suspicious activities.
-NewStraitsTime