SIBU: A plantation manager in his 50s was cheated out of RM245,600 after falling victim to an investment scheme that promised high returns.
The incident happened in early November this year when the man befriended a woman named “Elsa” on Facebook.
They then communicated on WhatsApp, where Elsa introduced the victim to an investment opportunity through a mobile application called CW(M)-Inc.
Sibu police chief Assistant Commissioner Zulkipli Suhaili said the victim was lured by the promise of quick and easy profits and was instructed to make multiple payments to secure the promised returns.
“The victim transferred a total of RM245,600 in 27 transactions to four bank accounts provided by the suspect,” Zulkipli said.
“After checking the CW(M)-Inc app, the victim saw that his supposed profits had grown to a significant amount. However, the suspect then claimed that to withdraw the money, the victim would need to pay an additional 30 per cent into another account,” he added.
Suspecting a scam, the man reported the incident to the police.
Zulkipli confirmed that the victim had not received any of the promised profits at the time of the report.
The case is being investigated under Section 420 of the Penal Code for cheating and dishonesty inducing the delivery of property.
Police are urging the public to exercise caution and conduct thorough research before committing to any investment scheme.
“People should not be easily swayed by investment opportunities advertised on social media or by those promising quick and high returns,” he advised.
The public is encouraged to verify the legitimacy of companies and websites through official sources such as Bank Negara Malaysia’s website (www.bnm.gov.my) or telelink at 1-300-88-5465, and the Malaysian Securities Commission’s website (www.sc.com.my) or hotline at 603-62048999.
