KUANTAN: After a friend introduced him to a tokenised crypto gold scheme three years ago, a man here decided to invest in the plan, with a view to earning money for his retirement.
Instead, the 60-year-old, who invested some RM53,000 between late 2017 and early 2018 in the digital currency, has yet to receive a single sen from the scheme.
The case began with the victim being introduced to a man who allegedly convinced the victim to join the crypto gold investment scheme, which promised lucrative returns and paid in US dollars.
Pahang Commercial Crime Investigation Department chief Superintendent Mohd Wazir Mohd Yusof said the victim was informed that he would start to receive his capital, along with profits, within one year.
"The suspect told the victim that he would receive the profits several times during the year; and the cash would be deposited into his bank account.
"In Nov 2017, the victim deposited RM26,500, followed by another RM27,000 on Jan 2018.
"It has been more than two years, and the victim has received no returns. The victim claims that the cryptocurrency in his investment account could not be transferred to his e-wallet," he said, adding that the victim, who became frustrated, lodged a police report yesterday.
Wazir said investigations revealed that the victim was duped by a scammer to invest in a non-existent digital currency scheme.
Meanwhile, in a separate case, a 19-year-old student lost RM1,150 after she fell victim to an online scam which offered an iPhone 11 Pro model for RM650.
Wazir said in the incident on July 2, the victim spotted the advertisement on social media and contacted the seller.
"The victim deposited RM500, followed by RM150. However, when she paid the full amount, she was told to deposit another RM500, which the victim agreed to do.
"When she did not receive the phone as promised, the victim realised that she had been cheated and lodged a police report yesterday," he said.
Wazir said both cases are being investigated under Section 420 of the Penal Code for cheating, which provides for a maximum jail term of 10 years and whipping, and a fine if convicted.