False Promise of RM700K Profit Leads to RM602K Loss in Investment Scam

A man who believed he was on the verge of earning RM700,000 in profit instead discovered he had walked straight into an elaborate investment scam.

After initially investing, the victim was persuaded to inject an additional RM200,000, allegedly to maximise his returns. The suspect later informed him that his account had accumulated RM700,000 in profit, strengthening the illusion that the investment was genuine.

But behind the scenes, the victim was unknowingly funnelling money into a sprawling network of accounts.

Between Sept 5 and Nov 11, 2025, he made 62 transactions into 36 different bank accounts, amounting to RM602,051.56.

The truth surfaced only when he tried to withdraw his supposed earnings. Instead of releasing the funds, the suspect demanded that he pay “taxes” and “processing fees”. These are classic red flags that nobody should ever overlook.

Realising the withdrawals would never happen, the victim understood he had been scammed.

Police have opened an investigation under Section 420 of the Penal Code for cheating.

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