A 65-year-old man in Johor was cheated out of RM668,800 in an investment scam.

A 65-year-old man in Johor was cheated out of RM668,800 in an investment scam.

JOHOR BAHRU, Jan 14 — A 65-year-old man lost RM668,800 after falling prey to a syndicate running a fake share investment scheme that promised high returns.

Local
Local

JOHOR BAHRU, Jan 14 — A 65-year-old man lost RM668,800 after falling prey to a syndicate running a fake share investment scheme that promised high returns.

According to Kulai police chief ACP Tan Seng Lee, the victim reported yesterday that he was lured by an investment offer promoted through a mobile app called JBS Shop, which claimed to provide profits of 10 to 20 per cent within 24 hours.

Enticed by these promises, the victim made 25 payments to 17 different local bank accounts between November 28, 2025, and January 6, 2026.

“The victim later checked the app and saw that the supposed profits had reached USD102,303.64 (around RM415,000). However, when he tried to withdraw the funds, the transaction was blocked. Realising he had been scammed, he filed a police report,” ACP Tan said.

The case is now being investigated under Section 420 of the Penal Code. Police have urged the public to stay alert and avoid investment schemes that guarantee unusually high returns in a short time. — Bernama

Kulai police chief, ACP Tan Seng Lee, said that police received a report from the victim yesterday, who claimed he was deceived by an investment offer promoted through a mobile phone application known as JBS Shop, which promised profits of between 10 and 20 per cent within 24 hours. — iStock pic

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