GEORGETOWN: Two people ended up poorer by almost RM1.34 million after they were cheated over a non-existent investment scheme based overseas.
Senior citizen Wong Lum Yoke, 76, lost nearly RM570,000 after she was cheated by a woman, in her 50s, between 2019 and 2021 while Kang Eng Thye, 58, lost nearly RM770,000 after he was cheated by a man, in his 60s, between 2016 and 2021.
The duo were allegedly syndicate members who offered investment bonds from the Chinese government, which promised a 10-fold return in USD to investors.
It is learnt that more than 40 investors in the state had fallen victim to the two individuals, who have since left the state and are believed to be in Kuala Lumpur.
Wong said she lodged a police report in August last year after there were no returns from the investments made as promised by the woman, known as "Datin Neoh", despite more than 10 transactions into the woman's account.
"I also pawned my jewellery to invest in the scheme. When I first met the woman in 2019, my husband was suffering from cancer. I needed money to treat him.
"Sadly, my husband died a year later, and the money I invested with the woman was also gone just like that," she told newsmen when met at the state MCA office here today.
Wong, a retired civil servant, said although the woman asked her to increase her investments, she did not see any promised returns.
"I then decided to lodge a police report last August as I did not want more people to fall victim to the woman. I hope she will be arrested soon," she said.
Kang, a former teacher in the private sector, said he lost his life savings of nearly RM770,000 between 2016 and 2019 after he was duped by the sweet words of an "investment expert", known only as Law.
"I only got to know that I was cheated by the same syndicate as Wong when I came to ask MCA for help.
"I performed more than 70 transactions into Law's account as he had promised multi-fold returns if we invested in the investment bond from China. I received nothing in return," he added.
Meanwhile, MCA Penang Public Services and Complaints Bureau chief Ooi Teik Liang said they would try to help both Wong and Kang in terms of the legal aspect.
"We hope that people out there will be extra careful with such investment schemes which promise handsome returns," he added.