MIRI: A 69-year-old man has lost RM367,300 after falling victim to a non-existent investment scam promoted through social media.
Miri District Police Chief, ACP Mohd Farhan Lee Abdullah, said police received a report on 27 July 2026 regarding the fraudulent investment scheme.
Initial investigations revealed that the victim, a local resident, came across an online investment advertisement on a social media platform before clicking on a link provided in the advertisement.
He was subsequently contacted by an individual claiming to be an investment agent using the phone number 011-74389532.
Believing the investment to be genuine, the victim was persuaded by promises of substantial returns within a short period.
Between 9 June and July 20, 2026, the victim carried out 48 fund transfers amounting to RM367,300 into three different bank accounts.
The victim only realised he had been deceived after the suspect repeatedly gave various excuses when he attempted to withdraw the promised investment returns.
The case is being investigated under Section 420 of the Penal Code for cheating, which carries a penalty of imprisonment for a term of not less than one year and not more than 10 years, whipping, and a fine upon conviction.
Police have urged the public to exercise caution when responding to investment offers advertised on social media, particularly those promising high returns within a short period.
Members of the public are advised to verify the legitimacy of investment schemes with the relevant authorities before committing any funds.
Anyone with information related to the case is urged to contact the investigating officer, Inspector Tasman Hukman, at 014-861 8690.
