Miri man duped out of RM230,000 in fake investment scheme

KUCHING: A local man lost RM233,950 after falling victim to a nonexistent online share investment scheme. Read full story KUCHING: A local man lost RM233,950 after falling victim to a nonexistent online share investment scheme.Miri OCPD Asst Comm Mohd Farhan Lee Abdullah said the district’s Commercial Crime Investigation Division received a report from the victim, who is in his early 30s, on Saturday (Feb 21).He said the victim became interested in the scheme in October after visiting a website and was instructed to open an online trading account."The victim was enticed by profit claims shared in a WhatsApp group, where members displayed their purported earnings," he said in a statement on Sunday (Feb 22).Initially, the victim invested RM100 and claimed that a return of RM700 was credited into his account. Encouraged, he proceeded to invest larger sums, ACP Farhan said."The victim subsequently made 27 transactions to 21 different bank accounts."He only realised he had been scammed when the suspect continued demanding additional payments despite the promised profits not being credited," he added.The case is being investigated under Section 420 of the Penal Code for cheating.ACP Farhan advised the public to stay vigilant and not be swayed by investment offers promising unusually high returns within a short period.He also urged potential investors to verify the legitimacy of investment platforms through the official websites of Bank Negara Malaysia and the Securities Commission Malaysia, and to contact the National Scam Response Centre at 997 if they fall victim to fraud. – Bernama Follow us on our official WhatsApp channel for breaking news alerts and key updates! Tags / Keywords: Miri , Sarawak , Online Investment , Scam , Victim , Losses , ACP Mohd Farhan Lee Abdullah Report a mistake What is the issue about? Spelling and grammatical error Factually incorrect Story is irrelevant This field is mandatory. Please provide details of the report. Email (optional) Please enter valid email. Report issue Cancel Invalid captcha response. Please re-try again. Thank you for your report! Related News Philippines 1d ago Duterte at International Criminal Court: How he ended up accused of murder in international tribunal South Korea 2h ago South Korean dad says he took fall for his son's murder, but court finds him guilty of domestic abuse World 19 Feb 2026 South Korean court hands life in prison to ex‑President Yoon for insurrection