Malaysian Manager Scammed out of RM156,000 in Fake Forex Investment Scheme

A 56-year-old company manager from Malaysia has been defrauded of RM156,424.73 after falling victim to a fake forex investment scheme that falsely promised exceptionally high returns. 

The victim was enticed by an investment opportunity presented by Clearbridgeleader.com through a WhatsApp group in mid-September. The scheme guaranteed monthly returns of up to 20% for an initial investment of RM10,000 in forex trading. Convinced by the lucrative offer, the victim proceeded to make 18 transactions to four different bank accounts between September 26 and December 18.

When the victim attempted to withdraw the supposed profits, he was asked to pay an additional RM7,000. He realized that the funds, which came from his personal savings and contributions to the Employees Provident Fund (EPF), were lost to a scam.

Malaysian authorities are warning the public to exercise caution and thoroughly verify the legitimacy of online investment opportunities. BrokersView advises individuals to remain vigilant and avoid making investments that seem too good to be true.