MUKAH: A private company owner has found himself RM490,000 poorer after falling victim to a watch investment scam.
The unfortunate incident happened on Mar 21 this year when the man in his 60s, received a WhatsApp message from Lee Chee Ling (suspect) regarding a watch investment opportunity.
Sarawak Police Commissioner Datuk Mancha Ata said that all the victims had to do in the scheme was to purchase the watches in an advertisement and sell them back to the company named “sg886.com”, with a promised profit rate of up to 10 percent.
“The victim, who was intrigued with the enticing opportunity, was told to register himself as member via a link provided before commencing the investment venture.
“After registration, the man proceeded to transfer a sum of RM490,000 into the suspect’s bank account via four transactions in mid-March,” he said.
However, the victim only realised he had been cheated when he did not receive the promised profit.
Mancha said the man reported the incident to the police on Wednesday (Apr 24) and the case is being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing the delivery of property.
In light of this, the public is advised to exercise caution and invest only through legitimate and registered platforms sanctioned by Bank Negara Malaysia and the Securities Commission Malaysia.
He also advised the public to seek financial advice exclusively from registered agents when considering investments.
They can also check the list of companies and websites that are approved or have not been authorised at www.bnm.gov.my or BNM Telelink 1-300-88-5465 (Bank Negara Malaysia) and www.sc.com.my or 603 62048999 (Malaysian Securities Commission).
