JOHOR BAHRU, Oct 5 — A man was conned of RM224,000 after falling victim to an investment scheme syndicate.

Kota Tinggi police chief Supt Yusof Othman said the 57-year-old victim said he first saw an advertisement for the investment scheme called ‘Freezer’ on WhatsApp in January 2022, where he was initially offered to purchase three freezer units, priced at RM11,000 each.

"The victim, who used his EPF savings and personal savings for the investment, realised he had been scammed when he did not receive the promised monthly return commission of RM22,400 for the 28 freezer units he had invested in.

"The victim lodged a police report yesterday, and the case is being investigated under Section 420 of the Penal Code,” he said in a statement today.

Meanwhile, in JASIN, an elderly man lost RM108,000 after being deceived by a non-existent investment scam advertised on Facebook.

District police chief DSP Ahmad Jamil Radzi said that the 73-year-old man transferred the amount to four different accounts directed by the scam syndicate since August.

"The retiree realised he had been scammed when he was asked to make an additional payment of RM60,000 as tax for withdrawing the profits he had earned,” he said, adding that a report was made yesterday. — Bernama