KUCHING: A retired government officer here suffered a financial loss of RM697,000 due to an online investment fraud involving a scheme known as the ‘Yomaex Application.’
Sarawak Police Commissioner Datuk Mohd Azman Ahmad Sapri said according to the victim, he came across an investment advertisement on the social media platform Facebook and subsequently contacted an individual known as ‘Cheong Sheng Hee’ through WhatsApp at the number 01139016283 in February 2023.
“The victim’s phone number was then added to a WhatsApp group called ‘GROUP 02 (A Walk In The Woods)’ before he attended online classes teaching cryptocurrency and Bitcoin trading methods in the ‘Yomaex Application’ via WhatsApp every night.
“The victim later conducted two fund transfers amounting to approximately RM697,000 to a bank account under the name of a company at two financial institutions in the city here in early October 2023.
“The purpose of these transactions was to enable the victim to withdraw profits from cryptocurrency and Bitcoin trading investments in the application, totalling USD 7,523,674.01,” he said in a statement yesterday (Oct 11).
The victim, he said, only realised that he had been deceived when he was unable to withdraw the investment profits, and was subsequently asked to make an additional payment of RM355,000. The victim then reported the matter to the police for further investigation. The total loss suffered by the victim is approximately RM697,000.
The case is being investigated under Section 420 of the Penal Code, which deals with fraud and dishonestly inducing delivery of property, and carries a penalty of imprisonment for a term not less than one year and not more than ten years, in addition to whipping. A fine may also be imposed upon conviction.
