Engineer Loses RM230,000 in “Elite Group” Investment Scam

A 67-year-old engineer from Jerantut, Pahang, has lost RM230,000 after falling victim to a sophisticated online investment scam operated under the name “Elite Group.”

According to Pahang Police Chief Datuk Seri Yahaya Othman, the case was reported after the victim received a WhatsApp message on July 14 promoting an opportunity to invest in the stock market through the so-called company.

The victim was presented with a scheme promising that an initial investment of RM50,000 would yield returns of RM150,000 within a short time frame. Lured by the prospect of high profits, he agreed to participate.

Between July 16 and 31, he transferred a total of RM230,000 over nine transactions to four different bank accounts, using his personal savings. Following the payments, he was repeatedly asked to deposit additional sums, with the fraudsters claiming that issues had arisen in the investment processing.

The victim eventually realized he had been deceived after receiving no returns, prompting him to file a police report. The case is now under investigation under Section 420 of the Penal Code for cheating.

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