Mechanic loses RM41,980 in loan scam

SIBU: A mechanic lost RM41,980 after falling prey to a loan scam.

Sibu District police chief ACP Stanley Jonathan Ringgit, in a statement today, said the 45-year-old victim came across a loan advertisement on Facebook on Feb 28 and was immediately taken in.

“He wanted to apply for a sum of RM40,000 to pay off his housing loan.

“After contacting the advertiser, the victim was then contacted by an individual named Vincent.

“The victim was told that his loan had been approved but he had to make payments to process the fees,” Stanley elaborated.

Without much deliberation, the victim deposited a total of RM41,980 through 14 transactions to seven different accounts in five different banks.

“He first transferred RM980 (purportedly for insurance coverage) on March 4 followed by a second payment of RM2,000 (account opening) on March 5.

“His last payment was made on March 15 when he deposited RM5,000.”

Stanley said the victim only realised he had been scammed after failing to receive the loan.

Police are investigating the case under Section 420 of the Penal Code for scams.