Malaysian Woman Spends Savings and Pawns Jewelry for Investment Scam, Finally Losing RM1.29M

The Commercial Crime Investigation Department of the Royal Malaysian Police recently revealed a RM1.2 million investment scam. A 43-year-old woman in Pekan, Pahang invested a large amount of money into a fake investment scheme.

On Monday (March 31), the Pahang police chief revealed that the victim, a subcontractor and company auditor, joined a WhatsApp group called “C Baird VIP” and started investing through it.

The woman chose the “basic package” of the investment scheme and made a deposit of RM50,000. Not long after, the scammer lied that the victim earned RM49,000 in profit.

Seeing that she did not lose any money, but made a substantial profit, the victim felt the investment scheme was real and legitimate.

The satisfactory “returns” induced the victim to invest more. She took out her savings, pawned her jewelry, and borrowed a lot of money from friends just to meet the various investment and payment requirements of the scammer.

From January to March, the victim initiated 26 transfers amounting to RM1.29 million! The funds were transferred to five different bank accounts.

The woman realized she was being scammed because the fraudster asked her to pay RM3.15 million for the withdrawal.

Malaysian police have warned people not to be easily influenced by investment schemes that promise lucrative profits. Before trading, investors are advised to check if the relevant bank accounts and phone numbers are linked to fraudulent activities through the SemakMule system launched by the Malaysian government.