MIRI: A man in his early 30s lost almost RM234,000 after falling victim to a non-existent online share investment scheme, police here have confirmed.
The Miri District Police Chief, ACP Mohd Farhan Lee Abdullah, said the Commercial Crime Investigation Division (BSJKD) received a report on Saturday regarding the alleged scam involving fake share trading.
According to investigators, a local resident from the Miri district was first drawn to online share investments in October 2025 after being introduced to the website quantumone.asia and instructed to open an account to begin trading.
Police said the victim, persuaded by investment promotions circulated through a WhatsApp group where members posted screenshots claiming substantial profits, initially invested RM100 and subsequently received RM700 in returns.
Encouraged by the apparent success, the victim went on to invest significantly larger sums after being promised higher and multiplied returns.
Investigations revealed that the victim made 27 payment transactions to 22 different bank accounts, only realising he had been scammed when further payments were demanded, resulting in an estimated loss of RM233,950.
Police have opened an investigation under Section 420 of the Penal Code for cheating, with the case being handled by Insp. Sisim Abdul Samad.
In a statement, police urged the public to remain vigilant and to be wary of investment advertisements that promise unusually high returns within a short period.
Members of the public are advised to verify the legitimacy of any investment scheme with Bank Negara Malaysia’s Financial Consumer Alert List or the Suruhanjaya Sekuriti Malaysia’s Investor Alert List to ensure the entity is authorised to operate or collect funds.
Police also reminded victims of cyber fraud to immediately contact the National Scam Response Center by dialling 997 if they have recently transferred money to suspected mule accounts or scam syndicates.
In addition, the public can verify suspicious phone numbers and bank accounts via the Commercial Crime Investigation Department’s Check Scammers facility or through the Royal Malaysia Police’s Semak Mule portal before carrying out any financial transaction.
Police further encouraged the public to follow official social media channels of the Commercial Crime Investigation Department and Royal Malaysia Police cybercrime alerts to stay informed about the latest scam tactics.
