A police official confirmed both cases and said investigations were already ongoing.
In the first case, a retired teacher was cheated of RM150,000 in a fake share investment scheme purportedly offered by a major commercial bank.
“The victim was initially skeptical but the syndicate members convinced her by saying she would have her own investment portfolio which she could monitor online. However, the syndicate members told the woman that she would not be able to withdraw the money until the IPO was launched at the end of May.
Sources said that the victim came across an advertisement via social media and had clicked on a link which “connected” her to an investment company.The syndicate members then managed to convince the housewife that her investment would be doubled within a short period of time.
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