Johor bahru: A 57-year-old local man has reportedly lost RM267,888 in what is believed to be an online investment scam syndicate that was advertised through Facebook.

According to BERNAMA News Agency, Johor Bahru Selatan district police chief ACP Raub Selamat stated that the victim lodged a report at the Pelangi Indah police station on July 21, after realizing he had been deceived by an individual posing as an investment agent. Initial investigations revealed that the victim was attracted by an investment advertisement displayed on Facebook and subsequently contacted a woman who introduced herself as ‘Olivia Leong’ through the WhatsApp application.

The suspect promised the victim investment returns of up to 80 per cent in a short period. The victim was instructed to download an application and negotiate with an individual named ‘George’ for the transaction. The scam became apparent to the victim when he tried to withdraw his investment money, and the suspect instructed him to make additional investments.

Raub noted that the victim made nine money transfers between July 4 and 17, totaling RM267,888. The case is currently being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing delivery of property, which carries a penalty of up to 10 years imprisonment, whipping, and a fine.

The Royal Malaysia Police (PDRM) have advised the public to remain cautious and not be easily swayed by promises of extraordinary investment returns displayed on social media. They emphasize the importance of checking a company’s background, refraining from providing personal information, and avoiding downloading unauthorized applications. Raub also urged individuals with information regarding fraudulent activities to report it to the National Scam Response Centre (NSRC) at 997 or verify through the official Semak Mule portal.