SIBU，22 July: A retired businessman was left RM800,000 poorer to a non-existent investment scheme after disregarding repeated warnings from his family.
The man, who is in his 70s, had come across a Facebook advertisement promoting an investment platform called “GVD Coins” while browsing the internet at home in mid-June.
Fooled by the advertisement, the victim asked his family to prepare a sum of money to be invested in “GVD Coins.”
Sarawak Police Commissioner Datuk Mancha Ata said that despite advice from his family not to trust such offers and not to proceed with the investment, the victim insisted on going ahead with it.
“He then made several transactions in stages to bank accounts provided by the suspect, amounting to RM800,000.
“To date, the victim has yet to receive any returns from the so-called investment and has since lodged a police report,” he said.
The case is being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing the delivery of property.
Mancha warned the public not to be easily swayed by investment opportunities promoted on social media without conducting proper background checks.
“Always verify the legitimacy of any investment scheme through official sources before committing your money. The public is advised to consult Bank Negara Malaysia’s website at http://www.bnm.gov.my or contact BNMTELELINK at 1-300-88-5465.
“They may also refer to the Securities Commission Malaysia at http://www.sc.com.my or call 03-6204 8999,” he said.
The man, who is in his 70s, had come across a Facebook advertisement promoting an investment platform called “GVD Coins” while browsing the internet at home in mid-June.
Fooled by the advertisement, the victim asked his family to prepare a sum of money to be invested in “GVD Coins.”
Sarawak Police Commissioner Datuk Mancha Ata said that despite advice from his family not to trust such offers and not to proceed with the investment, the victim insisted on going ahead with it.
“He then made several transactions in stages to bank accounts provided by the suspect, amounting to RM800,000.
“To date, the victim has yet to receive any returns from the so-called investment and has since lodged a police report,” he said.
The case is being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing the delivery of property.
Mancha warned the public not to be easily swayed by investment opportunities promoted on social media without conducting proper background checks.
“Always verify the legitimacy of any investment scheme through official sources before committing your money. The public is advised to consult Bank Negara Malaysia’s website at http://www.bnm.gov.my or contact BNMTELELINK at 1-300-88-5465.
“They may also refer to the Securities Commission Malaysia at http://www.sc.com.my or call 03-6204 8999,” he said.