Kuala terengganu: A senior citizen lost RM76,740 after being duped by a non-existent investment scheme advertised on social media.

According to BERNAMA News Agency, Kuala Terengganu District Police Chief ACP Azli Mohd Noor revealed that the 62-year-old victim encountered an advertisement on Facebook promoting a stock investment scheme. The advertisement directed the victim, a former worker in the oil and gas industry, to a WhatsApp group managed by a woman.

The woman, introducing herself as an instructor, outlined the investment procedures to the group members. The victim, showing interest, invested a total of RM76,740, which was transferred into seven different bank accounts over the period from August 24 to September 18.

Azli stated that the victim became aware of the scam only after he failed to receive any promised returns and was instead solicited for further investments to achieve substantial profits. The case is currently under investigation under Section 420 of the Penal Code.