Retired teacher loses RM838k to P166 HIFA investment scam in Kedah
ALOR SETAR: A retired teacher in Kedah fell victim to an investment scam, losing RM838,000 after being lured into the fraudulent 'P166 HIFA' scheme promoted via WhatsApp.
The 72-year-old victim was promised high returns but instead lost his savings in the elaborate con.
Kedah Commercial Crime Investigation Department (JSJK) chief, Superintendent Loi Yew Lik, confirmed the case, stating that the victim was added to a WhatsApp group named 'P166 HIFA' after initial contact with a person identified as Helen.
The scammer provided a link to download the 'PHC VIEW' app from Pinnacle Horizon Capital, falsely displaying inflated profits.
'The victim was promised returns five times his investment within days. Believing the scheme, he transferred RM838,000 in eight transactions to four different company accounts,' Loi said.
The companies involved were Hanifi Smart Home Sdn Bhd, Seeking Alpha International Sdn Bhd, Kiam Hong Electri Sdn Bhd, and Master Gold Properties Sdn Bhd.
The victim later saw a fabricated profit of RM4.09 million on the app but was unable to withdraw the funds.
Scammers demanded additional payments, prompting the victim to file a police report.
Loi warned the public against similar scams using names like 'Pinnacle Horizon Capital' and 'Moomoo'.
Kedah police have opened seven investigation papers related to these fraudulent schemes.
'Verify investments via the Mule Check app, JSJK's Facebook, or contact the National Scam Response Centre (NSRC) at 997 before transferring money,' he advised.
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