Two women cheated of over RM200,000

BATU PAHAT: Two women in their 60s were duped of more than RM200,000 of their savings in separate scams which promised high returns.

In the first case, a retired teacher was cheated of RM150,000 in a fake share investment scheme purportedly offered by a major commercial bank.

It is learnt the woman received a message several weeks ago from a person claiming to be the chairman of a bank, who offered the victim a chance to double her money by investing in the shares of a new technology company.

Sources said the syndicate member convinced the victim the purported initial public offering was for selected loyal bank customers.

“The victim was initially skeptical but the syndicate members convinced her by saying she would have her own investment portfolio which she could monitor online.

“She then agreed and transferred her monies to the syndicate in small amounts over a period of seven days,” the source said, adding that after transferring the money, she was given a link online for her to view her investment.

It is learnt that the victim was elated when she noticed her investment had gone up to RM250,000 when she viewed her investment profile.

However, the syndicate members told the woman that she would not be able to withdraw the money until the IPO was launched at the end of May.

The victim got a shock when her account had been frozen when she wanted to withdraw all her investment several days ago.

She realised that she had been duped when the bank official could also not be contacted.

She then lodged a police report.

Meanwhile, a housewife from Kluang was cheated of her savings totalling more than RM60,000 in another fake investment scheme promising high returns.

Sources said that the victim came across an advertisement via social media and had clicked on a link which “connected” her to an investment company.The syndicate members then managed to convince the housewife that her investment would be doubled within a short period of time.

“The woman then transferred the money to several accounts,” the sources said, adding that she realised that she had been duped when she did not get her returns and lodged a police report.

A police official confirmed both cases and said investigations were already ongoing under Section 420 of the Penal Code for cheating.

The official urged the public, especially senior citizens, to be wary about carrying out any transaction online without meeting the investment representative in person.

Those with any relevant information are urged to contact the police hotline at 07-2212999.