Plantation manager loses over RM200,000 to investment scam

KUALA TERENGGANU: A plantation manager lost RM205,983 after falling victim to a non-existent investment scheme.

Acting Kemaman police chief DSP Wan Muhamad Wan Ja’afar said that the 56-year-old male victim had invested in the Goldencrimson scheme, which was advertised on social media.

The victim, drawn in by the promise of high returns, made 12 transactions, to eight different bank accounts, between Nov 4 and Dec 12, as instructed by the suspect.

“The victim made his first investment of RM5,000 on Nov 4 and received a return of RM4,708.50.

“Encouraged by the profit, the victim made 12 additional investments, totalling RM205,983, hoping for even greater returns,” he said in a statement on Friday (Dec 20).

However, DSP Wan Muhamad said that the victim became suspicious when no returns were received as promised, and subsequently filed a police report yesterday evening.

The case is being investigated under Section 420 of the Penal Code.

DSP Wan Muhamad also urged the public to be cautious of fraudulent schemes, particularly those circulating on social media and websites. – Bernama