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The Sun
39 minutes ago
- Business
- The Sun
Medical practitioner loses RM8.7 mln in online investment scam
JOHOR BAHRU: A 53-year-old medical practitioner lost her life savings of RM8.7 million after being deceived by an online investment scam offering unrealistic stock trading profits. Johor Bahru Selatan deputy police chief Supt Azrul Hisham Mohd Shaffei revealed that the victim encountered the fraudulent scheme through a social media advertisement in April. The scammer enticed her with promises of high returns, leading her to engage in further discussions. 'The suspect offered returns of up to 520 percent on her investment, convincing her to transfer RM8.7 million into multiple bank accounts between May and July,' he said. Despite the substantial investment, the victim was later informed she had only earned RM6,033 in returns. The fraudster then pressured her into paying an additional RM500,000 as a 'deposit' to withdraw her funds. Azrul Hisham added that the victim realised she had been scammed after receiving threats that her account would be frozen. She filed a police report yesterday, and authorities are investigating the case under Section 420 of the Penal Code for cheating. - Bernama
Sinar Daily
an hour ago
- Business
- Sinar Daily
Medical practitioner loses RM8.7 million in savings to online investment scam
The victim had come across an advertisement for the scheme on social media in April and was lured by promises of lucrative profits. 30 Jul 2025 05:25pm Photo for illustration purposes only. JOHOR BAHRU - A 53-year-old medical practitioner lost her savings of RM8.7 million after falling victim to an online investment scam promising high returns from stock trading. Johor Bahru Selatan deputy police chief Supt Azrul Hisham Mohd Shaffei said the victim had come across an advertisement for the scheme on social media in April and was lured by promises of lucrative profits. He said the woman began corresponding with the suspect to obtain more details, and was eventually offered returns of up to 520 percent on her investment. "Convinced by the promised profits, the victim made payments amounting to RM8.7 million into several bank accounts as instructed by the suspect, between May and July,' he said in a statement today. However, despite the large sum invested, the victim was later informed she had earned only RM6,033 in returns, and was then coerced into paying an additional RM500,000 as a 'deposit' to withdraw her funds. Azrul Hisham said the victim was also threatened that her investment account would be frozen, prompting her to realise she had been duped. She lodged a police report yesterday, and the case is being investigated under Section 420 of the Penal Code for cheating. - BERNAMA More Like This
New Straits Times
2 hours ago
- Business
- New Straits Times
Doctor's life savings wiped out in RM8.7mil investment fraud
JOHOR BARU: A 53-year-old doctor lost her entire life savings of RM8.7 million after falling victim to an online investment scam that promised unrealistically high returns of up to 520 per cent. The woman lodged a police report yesterday after her attempts to withdraw the so-called profits proved futile. She had been enticed by a flashy investment advertisement on social media in April this year. Drawn in by the promise of lucrative gains, she contacted the syndicate behind the advertisement and was gradually persuaded to transfer the substantial sum into multiple bank accounts between May and July. Johor Baru (South) deputy police chief Superintendent Azrul Hisham Mohd Shaffei said the woman initially received RM6,033 in returns. However, subsequent attempts to withdraw the remaining "profits" were blocked, with the syndicate making further demands for payment, he said.. "The victim was threatened that her account would be frozen unless she paid an additional RM500,000 in so-called 'deposit' fees," he added. The case is being investigated under Section 420 of the Penal Code for cheating, which carries a jail term of between one and 10 years, whipping, and a fine upon conviction. Azrul advised the public to remain cautious and not be swayed by online schemes offering extravagant profits, especially those advertised on social media. He urged individuals to verify any investment opportunities through official platforms such as the police, Bank Negara Malaysia, or the Securities Commission. He also encouraged the public to stay up to date with the latest commercial crime tactics via the Commercial Crime Investigation Department's Facebook, Instagram, and TikTok pages.
Malay Mail
10 hours ago
- Malay Mail
MPAJ's Highland Towers demolition bid stalls in lower court
AMPANG, July 30 — The Ampang Jaya Municipal Council (MPAJ) must now apply to the High Court for order to demolish the remaining Highland Towers blocks in Hulu Kelang, after its latest attempt was rejected by the Magistrate's Court. MPAJ deputy president Hasrolnizam Shaari said the High Court's permission is now required since the landowner, Highland Properties Sdn Bhd, has been wound up. He added that the Magistrate's Court directed MPAJ to escalate the matter to the High Court for further decision, The Star reported. MPAJ began pursuing demolition plans last year in response to repeated complaints from nearby residents over safety and nuisance concerns. Then-MPAJ president Dr Ani Ahmad had said notices would be served to the property owners as part of the legal process. She also said the demolition would follow Sections 87, 88, and 89 of the Street, Drainage and Building Act 1974, which address public nuisances and unsafe structures. The cost of tearing down the derelict buildings was then estimated at RM6 million to RM7 million. The Highland Towers tragedy occurred on December 11, 1993, when one of three apartment blocks collapsed, killing 48 people and prompting the evacuation of the remaining towers.
New Straits Times
a day ago
- New Straits Times
Muar man falls for RM6mil online trading trap, loses RM488,740
MUAR: Lured by promises of sky-high returns, a 46-year-old furniture factory worker lost nearly half a million ringgit after falling victim to a bogus online stock investment scam, run through a fake mobile app. District police chief Assistant Commissioner Raiz Mukhliz Azman Aziz said the victim lodged a report yesterday, claiming losses of RM488,740 following a series of transactions over the past two months. The scam began when the man clicked on a stock investment advert on social media and was later contacted via WhatsApp by an unknown individual who instructed him to download an app called 'PHG Plus'. "The app promised weekly returns of 50 per cent and up to 500 per cent in six months," Raiz said in a statement today. Convinced the scheme was legit, the victim made 39 cash transfers between May 21 and July 21 to six different bank accounts, totalling RM488,740. However, when he tried to withdraw his supposed profits — which the app claimed had grown to over RM6 million — he was told to pay an additional RM600,000 in 'income tax' to access the funds. It was then that he realised he had been scammed. The case is being investigated under Section 420 of the Penal Code for cheating, which carries a jail term of up to 10 years, whipping, and a fine upon conviction. Raiz urged the public to be wary of investment schemes offering unrealistic returns, and to verify such offers via official police social media platforms, including Facebook, Instagram, and TikTok.
