Fake Dato' Dr. Nazri Khan! Saham Trading Defrauds a Trader of Over RM40,000

Social media has always been fertile ground for scammers to deploy scams, and the influence of celebrities is one of the tools they resort to. Gaining traders' trust is a key step for scammers, and posing as famous figures, capitalizing on their popularity, pretending to be associated with a renowned business, etc. is a shortcut to success. Saham Trading is one of the scams that has taken this approach. Last week, BrokersView received a complaint from a victim against this fake broker.

The trader was mistakenly added to a Telegram group while searching for investment from Dato' Dr. Nazri Khan (DDNK), a well-known investor in Malaysia. The profile of the administrator who added her to the group appears to be the real Dato' Dr. Nazri Khan, whether his name or photo, so the trader considered the scammer to be DDNK himself.

The fake DDNK started talking to the trader and presented the company's certificate to her, which was, in fact, a forged license document. The certificate shows that the issuing authority is Bank Negara Malaysia, but the central bank does not regulate forex and does not issue such licenses.

According to Saham Trading's trading packages, the minimum deposit for the Basic package is RM550 and the corresponding profit is RM15,000, while the maximum profit that can be earned from the Gold package is up to an astonishing RM300,000. The trader decided to start trading with a minimum capital of RM550.

Subsequently, her account showed a profit of RM15,000. However, the scammer asked her to make a few more payments, she did so as she decided at the time that this was what the real DDNK was asking for. When her account showed a balance of $60,000, she intended to withdraw the entire amount, but the withdrawal page showed that the withdrawal could not be processed due to damage to her account.

After the initial deposit, the trader then made multiple payments of RM3,000 and more, resulting in a total of RM42,000 being defrauded.

BrokersView Reminds You

Saham Trading's website is extremely simple, with no address, no contact details, and no information about its regulatory status. In fact, it is not in the forex regulatory framework, not regulated by any regulatory body.

Saham Trading was founded in 2022, yet claims to be one of the oldest and most reputable online binary trading platforms. He also claims that clients' deposits are held in a separate trust account and are not used for any other purpose. However, this trader's complaint has shown that it is a scam broker. Lies always come easy to scammers.

Investors are strongly advised to avoid dealing with Saham Trading.

In addition, investors looking for investment opportunities should always keep their eyes peeled and double-check all facts when seeing the same name or logo as a celebrity or a well-known company to avoid falling into the fraudulent trap of imposters.