Malaysian Engineer Scammed Twice in WhatsApp Investment Scams, Suffers RM571k Loss

A Malaysian engineer was defrauded of RM571,100 after falling victim to two separate fraudulent stock investment syndicates operating via WhatsApp.

The 44-year-old victim encountered the first scam on November 30 last year, when he received a message from a representative of ‘Nuveen Financial Community’, a group claiming to offer investment education services. Enticed by promises of high returns in a short period, he proceeded to make 23 transactions totaling RM469,100 across nine different accounts between January 22 and April 3.

When he attempted to withdraw his “investment profits”, he was instructed to make additional payments but was unsuccessful. The victim ultimately only recovered RM23,000.

On December 10 last year, the victim was approached again via WhatsApp by another fraudulent group—‘PJT Partner Shock Academy’—which similarly promoted investment education with the promise of quick, lucrative returns. Believing the offer, he made nine transactions amounting to RM125,000 to four accounts between January 9 and March 28 this year.

Despite repeated attempts, the victim was unable to withdraw the promised profits, facing additional payment demands before realizing the scam.

Authorities revealed that seven out of the 13 accounts involved have been linked to 44 reports of investment fraud cases.