Retiree loses RM367,950 in WhatsApp investment scam

KUALA TERENGGANU: A retiree in his 70s lost RM367,950 in savings and proceeds from a land sale after falling victim to an online investment scam involving a woman he befriended on WhatsApp.

Kuala Terengganu police chief Assistant Commissioner Azli Mohd Noor said the victim lodged a police report at 11.49am yesterday.

He said the victim was first contacted on July 31 by a woman identifying herself as "Via", who claimed she had messaged him by mistake, believing he was a contractor named "Mahdir".

"Through their subsequent interactions, the suspect developed a close relationship with the victim and offered him an opportunity to join an investment scheme to generate income.

"To gain his trust, the victim received returns from his first three transactions, convincing him that the scheme was legitimate," he said.

Azli said the suspect subsequently instructed the victim to transfer investment capital in stages to several bank accounts allegedly serving as intermediaries for the scheme.

Between Aug 22 and Sept 30, the victim made 72 transactions involving 13 accounts, transferring a total of RM367,950.

However, he received no further returns.

The victim was later told that his accumulated capital and profits on the platform had exceeded RM800,000 and were ready for withdrawal.

"However, when he attempted to withdraw the money, the main platform operator claimed there was an issue with his account, citing an 'abnormal relationship between funds and tax'.

"The operator then demanded an additional RM80,765 as a processing fee before the funds could be released," Azli said.

He said the victim refused to pay after suspecting that the operator was deliberately imposing additional charges and making excuses to prevent him from withdrawing his money.

The victim then lodged a police report.

Azli said the money lost comprised the victim's personal savings and proceeds from a recent land sale.

The case is being investigated under Section 420 of the Penal Code for cheating.