Kluang: A trader and director of a hardware company lost RM829,705 after falling victim to an online investment scam. Kluang police chief ACP Bahrin Mohd Noh said the 56-year-old man came across an investment advertisement promising high returns on social media in March.

According to BERNAMA News Agency, after contacting the so-called investment ‘agent’, the victim was instructed to download an app called ‘PHV View’ to participate. ‘Between June 5 and July 9, he transferred RM829,705 in stages to five different bank accounts for the supposed return of RM4,669,065.25 shown on the app,’ he said in a statement today.

However, the man was then told he had to make further payments to withdraw the profits. Realising he had been scammed, the victim lodged a police report on July 10 at the Kluang Police Station. The case is being investigated under Section 420 of the Penal Code for cheating.