Sibu clerk loses RM240,000 to online investment scam promising up to 350pct profit

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KUCHING, Dec 30: A woman in her 50s, working as a clerk in Sibu, lost RM240,000 after falling prey to an online investment scam perpetrated through the ‘FTSE VIP’ mobile application offering profit returns of up to 350 per cent.

Sarawak Police Commissioner Dato Mancha Ata disclosed that the incident unfolded when the victim received a WhatsApp message from an individual identified as ‘Chow Yin Mei’ who promoted share investment via the FTSE VIP mobile application.

“The suspect requested the victim to download the app on her mobile phone at the end of November.

“Subsequently, the victim was briefed about the investment packages available, promising profit returns ranging from 200 to 350 per cent according to the investment plan. This enticed her to invest in the scheme,” he said in a statement today.

The woman later made 15 online transactions, totalling about RM240,000, to three bank accounts with different company names between the end of November and the middle of December.

The victim only realised she had been deceived after failing to receive any profit returns from the investment as promised.

Mancha confirmed that the woman had lodged a police report for investigation.

“The case is being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing a person deceived to deliver any property to any person,” he said.

Offences under this section carry a mandatory minimum term of imprisonment for one year and not more than ten years, with mandatory whipping or a fine if found guilty. — DayakDaily