JOHOR BAHRU: An elderly tour guide has lost RM125,000 of his savings after falling victim to an investment scam promising returns of up to 200%.
Johor Bahru police chief ACP Raub Selamat confirmed that the 72-year-old man became interested in a Facebook investment advertisement during May.
The victim from Larkin was subsequently added to a Telegram group after clicking the advertisement link.
He then contacted the group administrator who convinced him about the lucrative investment opportunity.
The victim received instructions to deposit money into several bank accounts and wait one month for promised profits.
He only received RM100 and was told to make additional payments to withdraw his supposed profits.
Police confirmed the victim made twelve cash transactions into six different bank accounts between April 26 and July 11.
The case is being investigated under Section 420 of the Penal Code for cheating. – Bernama