Construction site supervisor loses over RM100,000 to non-existent investment scam

KUALA TERENGGANU: A construction site supervisor has fallen victim to an investment scam, losing RM118,800 after being lured into a non-existent scheme through the “ATS Pro” application.

Kuala Terengganu OCPD Asst Comm Azli Mohd Noor said the 39-year-old victim came across the application when an unknown individual added it to a WhatsApp group on April 21.

Intrigued by discussions and the profits shared by other group members, the victim was later contacted by someone named “Vincent”, who encouraged him to invest based on recommendations from a mentor named “Joel Kim”.

“The investment agreement was conducted online with ‘Dimensional Fund Advisory (Hong Kong) Investment Company’, the sponsor of the application, which ultimately convinced the complainant of the promised returns,” Azli said in a statement on Monday (Oct 14).

“The victim was attracted to the investment after being promised profits of 5% to 9%fwithin three to five days for an initial capital of RM5,000. The returns were to be disbursed in either Malaysian ringgit or Chinese Yuan.”

ACP Azli stated that the victim, from Manir, participated in virtual tutorials led by “Joel Kim” five days a week for several months.

During this time, he conducted 12 transactions amounting to RM118,800, transferring the funds to two different bank accounts.

However, when the victim attempted to withdraw a profit of RM2,000, he faced difficulties.

Upon contacting “Vincent” and the customer service of the “ATS Pro” application, he was informed that he needed to pay RM424,298.08 to access his promised investment profit of RM1,151,590.40.

“Suspecting fraud, the complainant, who had used his Amanah Saham Nasional Brad savings for the investment, decided to file a police report yesterday morning. The case is being investigated under Section 420 of the Penal Code,” Azli said. – Bernama