Kuala Terengganu: A senior citizen lost RM62,109 after falling victim to a non-existent investment syndicate.

According to BERNAMA News Agency, Kuala Terengganu police chief ACP Azli Mohd Noor stated that the 73-year-old man received a text message on February 28 from an unknown number promoting an investment opportunity. The advertisement offered an investment scheme requiring an initial deposit of RM400, with a promised return of RM8,500 within 48 hours.

After making the initial investment, the victim was instructed to make additional payments, allegedly for wages and processing fees related to the profit payout. Believing the scheme to be genuine, he used his savings from his time working at a newspaper company to make 18 transactions to nine different bank accounts, totaling RM62,109.

Upon realizing he had been scammed, the victim lodged a police report at the Kuala Terengganu district police headquarters (IPD) at 1 pm yesterday. Azli added that the case is being investigated under Section 420 of the Penal Code.