Ipoh: A 62-year-old man lost RM300,651 after being duped by a fake stock investment scheme promoted through Facebook. Perak police chief Datuk Noor Hisam Nordin said the Ipoh District Police Headquarters received the report from the unemployed victim yesterday.

According to BERNAMA News Agency, preliminary checks revealed that the victim had seen an investment advertisement on Facebook in early October and later contacted the number provided via WhatsApp. He then expressed interest and made 14 transactions totaling RM300,651 into a bank account registered under a company’s name. The funds came from his savings and loans obtained from a moneylending firm.

The victim realized he had been scammed when he was unable to withdraw the promised returns. The case is being investigated under Section 420 of the Penal Code. Noor Hisam urged the public to be cautious of unauthorized and suspicious investment offers, particularly those that guarantee high returns in a short period.