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🇲🇾 Malaysia /Economy & Trade

Woman Loses Nearly RM120,000 to Fake Facebook Investment Scheme

From Utusan Malaysia · () Malay

Translated from Malay, summarized and contextualized by DistantNews.

At a glance

News From a news agency Context piece
  • A 58-year-old woman lost nearly RM120,000 after falling victim to a fake investment scheme advertised on Facebook.
  • The scheme, XM Royal, promised high returns within a short period, with a minimum investment of RM300 potentially yielding RM15,000 in two hours.
  • The victim made incremental payments totaling RM119,599.24 before realizing she was defrauded when her attempts to withdraw profits were blocked.

A 58-year-old woman in Kota Tinggi has lost RM119,599.24 after being deceived by a fraudulent investment scheme promoted on Facebook.

The incident began on July 19 when the victim encountered an advertisement for an investment scheme named XM Royal. The scheme enticed potential investors by promising substantial returns in a remarkably short timeframe.

According to the police, the syndicate behind the scheme offered investment packages starting as low as RM300, with the allure of earning RM15,000 within just two hours. Drawn in by the promise of quick and high profits, the victim proceeded to make additional payments in stages, accumulating a total loss of RM119,599.24.

The woman only realized she had been scammed when she attempted to access the promised profits but found her access blocked. Police are investigating the case under Section 420 of the Penal Code for cheating and have advised the public to be wary of investments that guarantee large profits in a short period.

DistantNews Editorial

Originally published by Utusan Malaysia in Malay. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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