Selangor top cop: Businessman loses RM5.3m after joining fake investment scheme on social media

Selangor top cop: Businessman loses RM5.3m after joining fake investment scheme on social media

KUALA LUMPUR, May 25 — A 67-year-old businessman has lost RM5.3 million after falling victim to a fraudulent investment scheme advertised through the Google app.

Selangor police chief Datuk Hussein Omar Khan said the scam involved a fake platform called Primus Pacific Partners, The Star reported.

“The victim clicked on the advertisement and was redirected to WhatsApp, where contact was established via phone call with a woman who introduced herself as ‘Ms Ng’, claiming to be an investment coach,” he said in a statement today.

“The victim was given an explanation about the investment and was added to a WhatsApp group,” he said.

Hussein said the man followed the investment scheme for about a week before ‘Ms Ng’ instructed him to register on a website named primuspacificpartners.biz.

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The businessman initially received a return of RM24,308.48, which boosted his confidence in the platform.

He later made 13 fund transfers totalling RM5.3 million to three different bank accounts.

Hussein said the victim was promised returns based on market rates, but when he tried to withdraw his investment profits, he was told to pay various tax charges.

Police have opened an investigation under Section 420 of the Penal Code for cheating, which carries a maximum penalty of 10 years’ jail, whipping, and a fine upon conviction.

Police also advised the public to be cautious of investment offers on social media, especially those offering high returns or involving platforms not recognised by Bank Negara Malaysia or the Securities Commission Malaysia.

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Those who encounter suspicious or fraudulent activity can contact the National Scam Response Centre at 997.

Selangor top cop: Businessman loses RM5.3m after joining fake investment scheme on social media

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