A 73-YEAR-OLD retiree from Teuk Intan lost RM132,590 after allegedly being duped into a forex investment scheme that promised high returns, with some of his investment money believed to have come from selling his house.
Hilir Perak district police chief ACP Chua Kok Lian said police received a report about the case on Oct 19.
Preliminary investigations found that the victim had been introduced to the scheme by an acquaintance who promised lucrative returns.
“The victim, attracted by the offer, began participating in the investment scheme on July 4 before making investments in stages over a period of about two months.
“However, he realised he had been cheated when the investment system could no longer be accessed on Sept 14,” he said today.
Chua said the victim had received neither profits nor a refund of his capital throughout his involvement in the scheme.
Police are continuing investigations to identify those involved in the alleged scam.
The case is being investigated under Section 420 of the Penal Code, which provides for imprisonment of between one and 10 years, whipping and a fine upon conviction. - October 21, 2026