Engineer Duped Twice in RM571,000 Investment Scam via WhatsApp

A Malaysian engineer has lost over RM570,000 after falling victim to two separate online investment scams. Both schemes were introduced to him through WhatsApp messages that promised high and fast returns.

The 44-year-old man lodged a police report on 8 April, revealing that he was tricked by individuals posing as representatives from two investment companies. Each case involved multiple bank transfers and ended with the victim being unable to recover his money.

The first scam began on 30 November last year. The victim received a WhatsApp message from someone claiming to represent Nuven Financial Community. This person offered a stock investment scheme with the promise of doubling the investment in a short time.

Believing the offer, the victim made 23 transactions into nine different bank accounts. These transfers took place between 22 January and 3 April this year, totalling RM469,100. When he tried to withdraw his supposed profits, he was told to make additional payments. Despite complying, he was unable to access the money.

Meanwhile, on 10 December, the same victim was approached by another scammer. This time, the message came from someone claiming to be with PJT Partner Shock Academy. The promise was the same — quick profits through stock investment.

The victim again transferred money, making nine payments to four different accounts between 9 January and 28 March. In total, he sent RM125,000. Just like in the first case, he was asked for more money before he could withdraw his profits. Again, the funds never came through.

The combined losses from both scams added up to RM571,100.

Seri Alam Deputy Police Chief Superintendent Victor Genason said initial investigations through the Semak Mule system showed that seven of the 13 bank accounts used in the scams were already linked to 44 previous police reports related to investment fraud.

The case is being investigated under Section 420 of the Penal Code for cheating, which carries penalties for dishonestly inducing delivery of property.

Superintendent Victor urged the public to be careful when dealing with unknown parties, especially those offering investment opportunities with unrealistic returns. He stressed the importance of verifying any financial offer with the relevant authorities before transferring money.

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