JOHOR BAHRU – Two senior citizens suffered a combined loss of RM1.67 million in separate incidents, falling prey to scams related to cryptocurrency trading and a non-existent investment scheme.
Johor police chief M. Kumar said the first case involved a 61-year-old businessman who lodged a report on the matter yesterday.
He said the victim was instructed by an individual to download an app called “Accerx” for cryptocurrency trading.
“The victim made transfers to several bank accounts as directed by the individual, amounting to RM1.28 million from last November to January this year,” he said in a statement today.
He said the victim did not receive any profit despite the app showing lucrative returns, and he could also not access it.
The case is being investigated under Section 420 of the Penal Code for cheating, which is punishable by between one and ten years imprisonment, caning, as well as liable to a fine, upon conviction.
According to Kumar, in the second case, a 65-year-old woman lost RM390,000 after she fell prey to a non-existent investment scheme.
He said the private-sector retiree lodged a police report yesterday after not receiving any return from the investment.
“The victim reported receiving a call from an individual offering investment in shares known as ‘Fidelity’, promising 30% returns.
“However, since making the payment last November, the victim has not received any profit,” he said, adding that the case was also being investigated under Section 420 of the Penal Code. – February 17, 2024