A business manager from Penang fell for a get rich quick scheme that cost him nearly 700,000 ringgit. The 70-year-old cargo company boss spotted what looked like a golden opportunity on Facebook back in March. A woman contacted him through WhatsApp and promised he could double his money in just two days. She claimed her company called Industrial Securities International would give him 100 percent returns on anything he invested. The offer seemed incredible but the elderly businessman decided to take the bait.
The victim started sending money to the scammers between June and early July. He made 12 separate payments to five different bank accounts over the course of several weeks. The fraudsters kept asking for more cash and told him he needed to pay extra fees before withdrawing his profits. When no money came back and the demands kept growing, the man finally realized something was very wrong.
Police received his complaint on Tuesday and have started hunting for the criminal network. Deputy police chief Mohd Alwi Zainal Abidin confirmed officers are investigating the case under fraud laws. The scammers used social media and messaging apps to target their victim and steal his life savings. Authorities warn people to be extremely careful about investment offers that promise unrealistic returns.
The victim started sending money to the scammers between June and early July. He made 12 separate payments to five different bank accounts over the course of several weeks. The fraudsters kept asking for more cash and told him he needed to pay extra fees before withdrawing his profits. When no money came back and the demands kept growing, the man finally realized something was very wrong.
Police received his complaint on Tuesday and have started hunting for the criminal network. Deputy police chief Mohd Alwi Zainal Abidin confirmed officers are investigating the case under fraud laws. The scammers used social media and messaging apps to target their victim and steal his life savings. Authorities warn people to be extremely careful about investment offers that promise unrealistic returns.
