Teacher loses RM45k in gold investment scam

KUANTAN: A teacher was tricked out of RM45,000 in a gold investment scheme that he joined four years ago.
Pahang CID chief Supt Mohd Wazir Mohd Yusof said the 33-year-old teacher lodged a police report yesterday after he did not receive the returns as promised.
Mohd Wazir added the victim claimed he was attracted to join a gold trading scheme "Terima Emas Berdiskaun" when introduced by a man known as Mohd Faizal who promised dividend returns of RM4,000 a month.
"To participate in the scheme, the victim remitted RM65,000 into the suspect's account on June 17, 2014 before receiving returns amounting to RM20,000 with the last payment made in August 2015.
"In September 2015, the suspect allegedly told the victim that he was facing financial problems and would be making payment soon but the victim did not receive any returns until today," he told reporters, here today.
Mohd Wazir added that the victim attempted to contact the suspect and the last time they met was in November last year.
The victim made a police report at the Jerantut police headquarters and investigations were being carried out under Section 420 of the Penal Code which provides for a maximum of 10 years in jail and canning and is liable to a fine upon conviction. — Bernama