A 68-year-old consultant from Malaysia lost a substantial sum of money, RM2.8 million, after falling victim to an investment scheme promoted through a TikTok app. The victim was lured in by the promise of high returns and subsequently directed to make numerous payments into various bank accounts.
A 68-year-old consultant lost over RM2.8 million after falling victim to an investment scheme advertised on a TikTok app. Bukit Aman Commercial Crime Investigation Department (JSJK) director Datuk Seri Ramli Mohamed Yoosuf revealed that the senior citizen, who works as a consultant, was drawn to the 'Clear Bridge Gold Community Gold Trading' investment advertisement. He was subsequently added to a WhatsApp group and given detailed instructions.
The victim was then presented with four distinct investment options: Clear Bridge Gold Community Trading, Pictet (VIP) 99 Group Bitcoin Trading, Axiom Share Trading Bulk Trading, and 105 Malay Investment Collective. \According to Ramli, the victim made 48 payment transactions between October 2024 and January 2025, totaling RM2,821,654 to 23 different bank accounts. These included accounts from various financial institutions such as Hong Leong Bank (eight), CIMB (four), RHB Bank (three), BSN (two), Affin Bank (two), GX Bank (two), and individual accounts from Public Bank and Maybank. \The victim realized no returns were forthcoming as promised and instead was urged to make additional payments to 'liquidate' profits within the TikTok investment app. He lodged a police report on January 27 in Kota Kinabalu, Sabah. An investigation is currently underway under Section 420 of the Penal Code for cheating. Ramli advised the public to exercise caution when encountering investment schemes that offer high returns within a short timeframe. He emphasized the importance of verifying the legitimacy and registration of investments with the relevant authorities. \In a separate case of fraud, Ramli revealed that police dismantled a stock investment syndicate operating from three condominium units in Sri Petaling. Eight individuals, consisting of seven Chinese men and one local man aged between 20 and 37, were arrested on Tuesday. They were acting as agents seeking investors. Police seized a significant amount of assets during the raid, including 23 mobile phones, three computers, a monitor and laptop, an internet router and modem, two external hard disk units, three sets of keys with home access cards, three passports, and RM3,453 in cash. The syndicate targeted Chinese victims, offering and instructing them to participate in investments through a provided link. All suspects have been remanded for five days until Saturday, and the case is being investigated under Section 420 of the Penal Code for cheating
Investment Scam Tiktok Fraud Cybercrime Penal Code
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