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Only RM1,000 returned after Kuching retiree ‘invests’ RM9m in alleged online IPO scam (opens original article in a new tab)

TL;DR

A Kuching retiree lost over RM9 million in a fake online IPO scam, receiving only RM1,000 in returns

  • A 79-year-old man in Kuching lost RM9.08 million in a fraudulent online investment scheme
  • Victim transferred RM9.08 million through 27 transactions into nine bank accounts provided by the suspect
  • Only RM1,000 was returned to the victim from the investment
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