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HomeNewsVictims of Bogus Online Gold Investments Scam Suffered Losses of RM120,000

Victims of Bogus Online Gold Investments Scam Suffered Losses of RM120,000

A bogus online gold investment has left 3 victims suffering RM120,000 in losses had lodged a police report regarding the matter.

According to Malay Mail, Seri Alam District Police Chief, Superintendent Mohd Sohaimi Ishak said the victims were deceived by the promise of a bogus online gold investment scheme that allegedly offered affordable packages but with the promise of lucrative returns.

The first report was lodged last Wednesday (29 September), where the victim allegedly received an opportunity to invest in a gold investment scheme.

Mohd Sohaimi said the scheme promised a return between 8% to 11% within 3 days for an investment package of as low as RM300.

“Until today, three victims, aged between 25 and 50, have lodged police reports about this gold investment scheme where their losses amounted to almost RM120,000.” he said in a statement.

Meanwhile, he also said the the investigations found that the victims were attracted by the cheap package that promised lucrative returns.

He added that the victims had made multiple transactions to the syndicate’s account.

“Preliminary investigations found that the victims were lured by this non-existent investment scheme through announcements from contacts and online.”

“Until now, only 3 victims have come forward to lodge reports related to the gold investment fraud case yesterday.” he said.

Nonetheless, Mohd Sohaimi said that the police are still conducting further investigations on the bogus online investment scheme and he believes that there could be other victims of the scam.

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

“Those keen to invest should be wary of any investment schemes that offer high and unrealistic returns.” he said, adding that the public can check Bank Negara Malaysia’s official website before deciding to invest in such investment schemes.

Meanwhile, we would advise you to stay vigilant as there are many “too good to be true” investment schemes out there.

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