Thursday, 21 August 2025

Retiree duped of RM200,000 in investment scam

Facebook
X
WhatsApp
Telegram
Email
AI-generated image showing a laptop screen with a warning sign that reads “Scammed”.

LET’S READ SUARA SARAWAK/ NEW SARAWAK TRIBUNE E-PAPER FOR FREE AS ​​EARLY AS 2 AM EVERY DAY. CLICK LINK

SIBU: A retiree’s hopes of growing his savings were dashed after falling for a fake stock investment scam that cost him RM200,000.

The victim, a man in his 70s, came across a Facebook advertisement on June 25 promoting an investment company called Point Hope G Trading Sdn Bhd.

Drawn in by the promise of high returns, he clicked on the ad and was soon contacted by two individuals who introduced themselves as Timothy and Amy.

Sibu police chief ACP Zulkipli Suhaili said the duo persuaded the victim to join a WhatsApp group named Wealth Freedom KLSE, which claimed to offer lucrative opportunities in the stock market.

“The victim was told he could expect high profits and was instructed to transfer a total of RM200,000 into a local bank account.

“He made the transactions on June 25 and July 2 at a bank counter.

“Following the transfers, the man was issued a participant ID and shown what turned out to be a fake investment profit statement.

“However, the deception did not end there as scammers later tried to convince him to fork out another RM992,525, allegedly to redeem a ‘lucky draw’ prize from Sunway shares,” he said

It was at this point that the victim got suspicious and realised he had been conned.

To date, the retiree has not received any returns from the so-called investment.

He lodged a police report on July 7 for further investigation under Section 420 of the Penal Code.

Zulkipli urged the public to remain vigilant against investment schemes that promise unusually high returns, especially those operating on unlicensed platforms or using social media as bait.

“Always verify the legitimacy of investment companies through Bank Negara Malaysia at www.bnm.gov.my or by calling BNMTELELINK at 1-300-88-5465.

“The public can also refer to the Securities Commission via www.sc.com.my or use the Investment Checker tool to conduct background checks on suspicious individuals or companies,” he said.

Related News

Most Viewed Last 2 Days