Batu pahat: A 73-year-old man has fallen victim to a non-existent investment scam, resulting in a loss of RM563,560. Batu Pahat police chief ACP Shahrulanuar Mushaddat Abdullah Sani reported that the victim was initially attracted by a Facebook advertisement on April 2, which promised substantial returns on investments.

According to BERNAMA News Agency, the senior citizen engaged in communication with an unidentified individual through WhatsApp and subsequently transferred funds into five different accounts between June 3 and July 24.

The victim was later shown a fake portfolio that falsely indicated his profits had increased to RM1,770,017.79. However, when the suspect requested an additional payment for the withdrawal of the non-existent sum, the victim refused. He ultimately neither received the promised returns nor recovered his initial investment.

Realizing the deception, the victim lodged a police report yesterday. The case is currently under investigation under Section 420 of the Penal Code, which addresses cheating offenses.