Civil servant loses RM540,000 in investment scam

KUCHING: A civil servant lost RM540,000 after he was enticed by the allure of profits in a cryptocurrency investment scheme.

The episode unfolded in early July when the victim in his 50s, having connected with an individual named ‘Chong’ on Facebook, was introduced to an investment opportunity involving the ‘Yomaex’ platform.

Sarawak Police Commissioner Datuk Mancha Ata said the victim, drawn by the promises of lucrative returns, established two investment accounts on the platform.

“He then transferred RM540,000 through 43 transactions into 16 bank accounts under various company names between July and October.

“Despite his active participation, the man received the promised returns of RM8,400 only twice throughout the investment period.

“It was only when attempts to access the Yomaex website failed, and the suspect became unreachable, that the victim realised he had fallen victim to a scam,” he said.

Prompted by this realisation, the man reported the incident to the police and the case is being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing the delivery of property.

If convicted, it carries a prison sentence of up to 10 years, along with the possibility of caning and fines.

In view of this, Mancha advised the public to only make investments through legitimate platforms that are registered with Bank Negara Malaysia or Securities Commission Malaysia.

“Please seek financial advice from a registered agent about an investment.

“The public is also advised not to easily trust an investment that offers lucrative profits in a short period of time,” he said.