Penang: A 55-year-old factory engineer lost RM300,000 after falling for a fake online investment scheme promoted through Facebook. Penang police chief Datuk Hamzah Ahmad revealed that the victim reported the scam yesterday, claiming he was tricked by a syndicate known as NBMAX.

According to BERNAMA News Agency, in early April, the victim encountered a Facebook advertisement promising high returns through a stock trading investment. He reached out to a woman via WhatsApp, who persuaded him to join the scheme. Subsequently, he was instructed to download the NBMAX app, register as a member, and commence investing.

The victim proceeded to make seven money transfers to an account registered under NB Management Sdn Bhd. However, during an attempt to deposit an additional RM52,800 at a bank counter, staff intervened and warned him about the potential scam, preventing further losses.

Realizing the situation, the man lodged a police report. The case is currently under investigation, classified under Section 420 of the Penal Code for cheating.