He Thought He Earned RM4 Million, But It Was All a Scam

A retired teacher in Malaysia lost over RM838,000 after falling for a fake investment scheme that promised quick and high returns.

The 72-year-old man was added to a WhatsApp group called “P166 HIFA” by someone who claimed to be an investment agent named Helen. She told him to download an app called PHC VIEW, which she said was linked to a company called Pinnacle Horizon Capital. The app looked real and showed what seemed to be live profits from his investments.

According to Superintendent Loi Yew Lik, head of the Commercial Crime Investigation Department in Kedah, the victim was told he could get five times his money back in just a few days. Believing this, he sent a total of RM838,000 in eight transactions to four different company bank accounts.

The app later showed that he had earned RM4.09 million. But when he tried to take the money out, he was asked to pay more fees. The scammers kept giving excuses and delays. After many failed attempts to withdraw the money, the victim finally realised he had been tricked and reported the case to the police.

The bank accounts used in the scam were linked to companies with official-sounding names, including, Hanifi Smart Home Sdn Bhd, Seeking Alpha International Sdn Bhd, Kiam Hong Electri Sdn Bhd, and Master Gold Properties Sdn Bhd.

On paper, these companies sound real and professional, but their actual business activities, if any, may have no link at all to financial services.

By using names that sound like tech firms, property developers, or electrical service providers, scammers create the illusion of legitimacy. Many victims, especially those not familiar with business verification processes, assume that because the company name looks official, the transaction must be safe.

This method also helps criminals avoid detection. When banks or investigators look into the transfers, the names of these companies dont immediately raise red flags if they are officially registered and appear unrelated to fraud. This makes it harder for authorities to trace the scam, especially if the companies are acting as “money mules” or have had their accounts hijacked without their knowledge.

Police are now investigating these companies, along with six other similar fraud cases in the state of Kedah.

Superintendent Loi warned the public to be careful of investment offers shared through WhatsApp, Facebook, or other messaging apps. He advised people to check the background of any investment using tools like the Semak Mule app, the CCID Facebook page, or by calling the National Scam Response Centre (NSRC) at 997.

He also said scammers often use names of real companies, like Pinnacle Horizon Capital and Moomoo, to make their schemes look trustworthy.

Older people and those without much experience in digital finance are often the main targets. As online scams become more clever, its more important than ever to check the source of any investment offer before sending money.