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Woman loses RM245,403 to fake investment scheme
🇲🇾 Malaysia /Economy & Trade

Woman loses RM245,403 to fake investment scheme

From Utusan Malaysia · () Malay

Translated from Malay and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Official statement Under investigation
  • A 56-year-old woman in Tangkak lost RM245,403 after making 18 transfers to three bank accounts allegedly used as mule accounts.
  • Police said scammers promised high returns within a short period and guaranteed substantial protection of the invested capital.
  • The case is being investigated under Section 420 of Malaysia's Penal Code, which carries up to 10 years in prison, whipping and a fine upon conviction.

A 56-year-old woman in Tangkak lost RM245,403 after being persuaded to invest in a scheme that promised quick, high returns and strong capital guarantees.

Tangkak district police chief Superintendent Roslan Mohd Talib said police received a report about the case the previous day. Preliminary investigations found that the woman made 18 money transfers in stages to three different bank accounts suspected of being mule accounts.

Police are investigating the case under Section 420 of the Penal Code for cheating. If convicted, offenders can face up to 10 years in prison, whipping and a fine. Roslan urged the public to remain cautious and not trust investment offers that promise easy profits within a short time.

The victim was encouraged to invest in the scheme after being promised lucrative returns within a short period, along with a high guarantee on the capital.

— Roslan Mohd TalibThe Tangkak district police chief described how the alleged scam attracted the victim.
About this summary

Originally published by Utusan Malaysia in Malay. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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