A 50-year-old Malaysian retiree has fallen victim to an elaborate online scam carried out by a fraudulent investment group operating under the name EVR Investment Academy. The scammers successfully duped the retiree into transferring RM586,450 under the false promise of high returns through a non-existent trading platform.
The deception began when the victim received an unsolicited WhatsApp message from someone claiming to represent EVR Investment Academy. The message invited the retiree to join nightly virtual stock market briefings held via Zoom from Sunday to Thursday. These sessions were promoted as exclusive educational seminars offering valuable insights into market trends and trading strategies.
Fake Trading Platform and Non-Existent Investments
As part of the scam, participants were encouraged to use a fake trading platform called QC Secure, marketed as a Direct Market Access (DMA) tool that promised enhanced trading privileges. The victim was then persuaded to invest in fraudulent financial products labeled as ‘Al Palsu’ and ‘QTI Luxaigo’ through this fake platform.
Over time, the retiree transferred large sums of money into accounts provided by the scammers, believing the funds were being used for legitimate investments. The scam began to unravel when a personal investigation revealed that the PJT Investment Academy and Boom S Trading Platform, frequently mentioned by the fraudsters, had no actual existence.
Growing Threat of Digital Investment Scams
This case sheds light on the increasing use of digital tools, like messaging apps and video conferences, by scammers to create the illusion of legitimacy. By simulating professional trading environments and leveraging fake testimonials, fraudsters are blurring the lines between real and fake investments, making it harder for victims to distinguish scams from legitimate opportunities.
