How many transactions were made in the RM500,000 scam?

Question

Accepted Answer

18 Transactions Made in RM500,000 Scam

A company manager lost RM527,116 after making 18 transactions into three local bank accounts between September 19 and October 25 as part of a fraudulent stock investment scheme. The victim was enticed by promises of quick and substantial returns, which were purportedly managed through an application called "P Trade Online."
Investment Scheme Details

The victim, a 55-year-old man, was approached by a syndicate that promised lucrative profits through an application. He was led to believe that these profits would be deposited into his account via the "P Trade Online" platform.
Financial Losses Incurred

Between September 19 and October 25, the victim transferred a total of RM527,116 across 18 separate transactions. These funds were deposited into three different local bank accounts, as directed by the syndicate.
Realisation of Deception

The scam came to light when the victim attempted to withdraw his purported profits of 3.251 million yuan, equivalent to approximately RM2 million. At this point, he was asked to make an additional payment of RM239,116, which prompted him to realise he had been deceived. The case is being investigated under Section 420 of the Penal Code.

Reading history

Hide →

This history is cleared when the page is closed.

How many transactions were made in the RM500,000 scam?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends