KEPALA BATAS, July 20 — An eatery operator lost RM512,244 after falling victim to an investment scam here recently.

Seberang Perai Utara District Police chief ACP Mohd Asri Shafie said the 54-year-old woman lodged a police report regarding the incident yesterday.

"The victim said she saw an investment-linked advertisement on ‘value investing’ on Facebook on May 22 and before contacting the investment agent via the WhatsApp application.

"The victim was then given an explanation about the stock investment offered by a company as claimed by the syndicate and she agreed to join the scheme,” he said in a statement today.

He said the woman then opened an investment account through the website htttp:/plus.com/#/resgristeragentcode697875.

Mohd Asri said the woman carried out 20 cash transactions totalling RM512,244 to eight different bank accounts from June 20 to July 5.

He said the woman also claimed that the investment she joined generated a profit totalling RM400,000 through the transactions shown in her investment account but could not withdraw the profit or the capital.

"The woman then lodged a police report as she suspected that she has been cheated when the investment agent disappeared while the website she used as a platform for investment could no longer be accessed,” he said.

Mohd Asri said police are investigating the case under Section 420 of the Penal Code and advised the public to be wary and not easily believe in any form of investment offering high profits in a short time. — Bernama