Pensioner losses RM540,000 in non-existent investment fraud

KUCHING: A local pensioner in his early 60s has fallen victim to an elaborate non-existent investment fraud, losing approximately RM540,000 over a span of three months.

According to Sarawak Police Commissioner Dato Mancha Ata, the man lodged a police report after realising he had been scammed.

In mid-June 2024, while browsing Facebook, the victim came across an investment advertisement for an entity called Pentheon Venture.

Attracted by the offer, he contacted the individual behind the ad through Facebook Messenger.

The scammer, who remains unidentified, provided the victim with a phone number and instructed him to communicate via WhatsApp.

Between mid-June and early September, the pensioner made 24 money transfers to nine different bank accounts, amounting to RM540,000, hoping to secure returns from the so-called investment.

The victim only realised he had been duped when he could no longer contact the scammer and had not received any returns on his investment.

Sarawak police are urging the public to be vigilant when encountering online investment offers and to verify the legitimacy of such schemes before parting with their money.

Investigations into the case are ongoing.