Only RM1,000 returned after Kuching retiree loses RM9m in bogus investment scheme (opens original article in a new tab)

A Kuching retiree lost RM9 million in a fake investment scheme, receiving only RM1,000 back, as police investigate under fraud laws.

• A 79-year-old man in Kuching lost RM9.08 million to a fraudulent online investment scheme
• The victim transferred money into nine bank accounts provided by the suspect but received only RM1,000 in returns
• Police are investigating under Section 420 of the Penal Code for cheating and dishonestly inducing property delivery