KUANTAN: All a trader wanted was to secure a RM40,000 loan to renovate his house and settle his credit card debts, but he ended up losing RM69,375 after being conned in a bogus loan deal.
Pahang police chief Datuk Seri Ramli Mohamed Yoosuf said the incident occurred on Jan 31, when the 36-year-old victim from Raub spotted a loan scheme advertised on Google.
"He spoke with the online money-lending service agent who agreed to provide the victim with the loan. However, the victim was required to make several payments including legal fees, processing fees, insurance and loan tax.
"The victim started to transfer the payments in stages to the agent and ended up making 10 transactions amounting RM69,374 to three separate bank accounts. The victim realised he had been cheated when the suspect demanded cash for more payments," he said.
He said the case was 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.
Ramli reminded the public to be extra careful when applying for loans through online applications and not to be easily convinced with such deals.