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Pahang retiree loses over RM1.1m in TikTok-promoted investment scam

KUANTAN, Oct 11 — A retired teacher claims to have lost more than RM1.1 million after falling for a non-existent stock investment scheme promoted on TikTok.Pahang acting police...

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彭亨州一名退休人士在TikTok推广的投资骗局中损失超过110万令吉

A retired teacher in Kuantan claims he lost over RM1.1 million in a fake stock investment scheme advertised on TikTok.

The victim made 22 payments to six different bank accounts after being convinced by a representative over WhatsApp.

Suspecting a scam after no returns, he reported the case to the police, now classified under Section 420 of the Penal Code.

KUANTAN, Oct 11 — A retired teacher claims to have lost more than RM1.1 million after falling for a non-existent stock investment scheme promoted on TikTok.

Pahang acting police chief Datuk Azry Akmar Ayob said the 65-year-old man saw an advertisement before contacting someone who claimed to represent the company through WhatsApp.

He said the victim was briefed on stock investments and financial market analysis before agreeing to join the scheme.

“He then carried out 22 transactions to six different bank accounts through online banking and over-the-counter services at financial institutions between August 21 and October 7,” he said in a statement today.

Azry Akmar said the victim was asked to make further payments even after completing all the transactions.

After receiving none of the promised returns, the man suspected he had fallen victim to a scam and lodged a police report at the Pekan District Police Headquarters yesterday.

The case is classified under Section 420 of the Penal Code. — Bernama

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