Victim believes he made over RM3mil from RM94,000 investment but ends up with nothing

SIBU: A car engine oil salesman has suffered a loss of RM94,247 after he was deceived into investing in a fake cryptocurrency scheme.

Sibu OCPD Asst Comm Zulkipli Suhaili said that police received a report from the 40-year old victim on Monday (Jan 29).

"The victim was attracted by an advertisement for an investment opportunity on Facebook.

"He clicked on the link and was added to a WhatsApp group run by the suspect known as David" he said.

ACP Zulkipli said that the suspect managed to convince the victim to invest in "crypto shares".

"From November 2023 to January 2024, the victim deposited a total of RM94,247 into five bank accounts.

"He later checked his 'investment account' and found that his accumulated profit was as much as US$721,922.93 (RM3,407,476.22)," he said.

However, the complainant was unable to withdraw his profits.

"The case is being investigated under Section 420 of the Penal Code for cheating," he said.