SERI ALAM: An e-hailing driver lost RM504,000 to a fake investment scheme she discovered on Facebook.
District police chief Superintendent Mohd Sohaimi Ishak said the woman, 44, lodged a report on Monday after her investment account was blocked when she tried to withdraw her profits.
He said the victim came across the fraudulent investment scheme through a Facebook advertisment in August. After contacting a phone number listed in the ad, she was added to a WhatsApp group called "SPDR", where members were guided on how the scheme worked, with promises of a three per cent profit on their capital after 90 days.
She was instructed to download an application called "Arcadia Equity" to facilitate transactions, Sohaimi added.
He said the woman received RM400 in October from her initial investment, which convinced her of the scheme's legitimacy.
She then increased her investments, transferring RM504,000 to four bank accounts in 10 transactions between Oct 17 and Nov 21.
However, when she attempted to withdraw her profits a month later, she found herself unable to do so. After contacting the agent, she was told to provide additional funds to access her earnings. She refused and realised she had been scammed, prompting her lodge a report.
Sohaimi stated that investigations were ongoing to identify the bank account holders. The case is being investigated under Section 420 of the Penal Code for cheating.
Federal Commercial Crime Investigation Department director Datuk Seri Ramli Mohamed Yoosuf had previously warned that most online investment schemes are fraudulentreported daily from January to November this year.