(Kuching, 25th) A 57-year-old local man lost as much as RM1.1 million after falling victim to a fraudulent stock investment scam on WhatsApp last December.
Kuching District Police Chief Alexson stated that the victim received a WhatsApp message regarding an investment scheme called "FYCMAX" at around 2pm on December 9, 2025, while at his office.
"Subsequently, he joined a WhatsApp group named 'FYCMAX VIP' and downloaded an application related to the scheme, communicating with several administrators."
"Believing in the promise of high returns, the victim made 23 transfers totaling RM1,108,784 to four different bank accounts."
"He only realized he had been scammed when he was unable to withdraw the so-called investment principal and profits."
The police are currently investigating the case under Section 420 of the Penal Code (Fraud). If convicted, the perpetrator faces 1 to 10 years in prison, whipping, and a fine.
Kuching District Police Chief Alexson stated that the victim received a WhatsApp message regarding an investment scheme called "FYCMAX" at around 2pm on December 9, 2025, while at his office.
"Subsequently, he joined a WhatsApp group named 'FYCMAX VIP' and downloaded an application related to the scheme, communicating with several administrators."
"Believing in the promise of high returns, the victim made 23 transfers totaling RM1,108,784 to four different bank accounts."
"He only realized he had been scammed when he was unable to withdraw the so-called investment principal and profits."
The police are currently investigating the case under Section 420 of the Penal Code (Fraud). If convicted, the perpetrator faces 1 to 10 years in prison, whipping, and a fine.