Sibu man duped out of RM88,000 in fake investment scheme

SIBU: A man in his 50s lost RM88,233 after being lured by promises of high returns in a bogus share investment scheme.

Sibu OCPD Asst Comm Zulkipli Suhaili said the district’s Commercial Crime Investigation Division received a report on Wednesday (July 16).

The victim claimed he was deceived into transferring funds to several bank accounts.

“Initial investigations found that the victim joined a WhatsApp group called ‘VIP Group’ on April 11, and was later contacted by a woman who identified herself as Ruth Khoo,” he said in a statement on Thursday (July 17).

The suspect then introduced the victim to a share investment opportunity offering high returns.

The victim saw other participants in the group chat talking about “profits” that they had received and was convinced to invest, ACP Zulkipli said.

The victim was then told to contact the scheme’s “customer service department” for further information and subsequently made six transfers totalling RM88,233 into three different local bank accounts, he added.

After the first transfer of RM1,000, he was told that he had earned a profit.

However, he was told to make additional payments for “tax purposes” before he could retrieve his gains.

“To date, the victim has not received any returns from the so-called investment and believes he has been defrauded,” ACP Zulkipli added.

Police have opened an investigation under Section 420 of the Penal Code for cheating, he said.