SHAH ALAM, Jan 15 — A manager of a private company in Ampang Jaya lost more than RM1.6 million after falling for a non-existent crypto investment online.

Selangor police chief Datuk Hussein Omar Khan in a statement yesterday said the 61-year-old male complainant was attracted to a cryptocurrency investment advertised on Facebook and made a phone call after which a suspect sent him a link to join the scheme.

"After that, the local complainant made 15 online money transfers totalling RM1,630,000 to six bank accounts belonging to the suspect, for the purpose of buying US dollars to be converted into cryptocurrency.

"But the complainant received no returns as promised after depositing money in stages starting from Oct 18 to Dec 31, 2024, before filing a police report in Ampang Jaya district yesterday [Monday],” he said.

In a separate case, Hussein said a 62-year-old private company retiree suffered losses of RM997,105.50 after being deceived via a phone call that he allegedly faced possible arrest for criminal offences.

"Following that, the suspect asked the victim to make a payment to avoid the arrest warrant being issued against him before the complainant made two online money transfers to two bank accounts,” he said.

Hussein said the suspect also asked the victim to upload a picture of the front and back of his ATM card, after which money in his bank account was siphoned out before the victim lodged a police report in the Gombak district Monday.

He said that following this, the Commercial Crime Investigation Department (JSJK) of the Selangor police contingent (IPK) headquarters opened two investigation papers under Section 420 of the Penal Code. — Bernama