77-Year-Old Retiree Duped by Trusted Contact
Malaysia has been hit by a RM15 million fake investment scam, with a 77-year-old retiree losing her life savings in what authorities describe as a highly elaborate and well-orchestrated fraud.
According to the Commercial Crime Investigation Department (CCID) at Bukit Aman, the elderly victim lodged a police report on April 14 at the Brickfields police headquarters. Acting director Datuk Seri Rohaimi Isa confirmed the case is under active investigation.
The victim was introduced to the scam through someone she trusted. That person connected her with a so-called businessman, who promised lucrative returns by investing in shares of a local company. Claiming he would hold the shares in trust for her, the suspect later introduced another accomplice posing as a purchasing agent.
Convincing documents were presented to the retiree to build credibility. Between 2020 and 2021, she transferred RM15.1 million to three individuals through cash cheques, direct bank transfers, and cash deposits—believing she was purchasing legitimate shares.
By 2021, doubts began to surface. The victim demanded proof of ownership and requested the shares be transferred to her name. However, her requests were repeatedly met with vague excuses and delays.
Investigations later revealed that much of the documentation shown to her was forged. Screenshots of WhatsApp messages that supposedly showed conversations with a prominent investment figure were fabricated—created by the suspects themselves.
Authorities warn the public to stay alert for common fraud tactics, including pressure to act quickly, promises of secrecy, and demands for cash or transfers to multiple bank accounts. These are all hallmarks of investment scams.
The case is being investigated under Section 420 of the Penal Code, which deals with cheating and dishonestly inducing delivery of property.
