KUCHING: A 47-year-old man lost RM377,433.20 after falling for a non-existent forex investment scheme known as Maxima.
Kuching police chief ACP Alexson Naga Chabu said the victim was introduced to the scheme by a friend in Kota Damansara, Selangor, around January last year.
The investment allegedly promised fixed monthly returns of between eight and 15 per cent.
Convinced by the offer, the victim later made 14 transactions into four different bank accounts and also handed over cash once.
“The total payment made by the complainant amounted to RM429,047.20.
“He only received RM51,614 in returns and realised he had been cheated after failing to withdraw his investment money and promised profits,” Alexson said in a statement.
The case is being investigated under Section 420 of the Penal Code for cheating.
Alexson advised the public not to easily trust investment offers, especially those promising high and fixed returns.
Those who have just transferred money to suspected scam accounts are advised to contact the National Scam Response Centre at 997 immediately.
