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A company director in Kuala Lumpur lost RM10 million after falling victim to an investment scam involving a non-existent road maintenance project in an East Coast state
Brickfields district police chief ACP Hoo Chang Hook confirmed that the victim lodged a formal police report on Monday, 20 July, detailing how he was allegedly deceived, according to the New Straits Times.
Initial police investigations found that the complainant was first introduced to the suspect in 2024. During their meetings, the suspect allegedly offered a joint venture opportunity, claiming he could secure a major road maintenance concession in the East Coast region.
Believing the offer was genuine, the director made two separate payments amounting to RM10 million, with the money transferred directly into the suspect's personal bank account.
The alleged scam came to light in 2025 when the victim conducted independent checks and found that the proposed road project did not exist
When questioned about the discrepancies, the suspect allegedly gave various excuses, leading the complainant to realise he had been duped and prompting him to lodge a police report.
Hoo said that the case is being investigated under Section 420 of the Penal Code for cheating, which carries a penalty of imprisonment for a term between one and 10 years, with whipping and a fine upon conviction.
He added that commercial crime investigations require detailed documentation and witness statements before police can make an arrest.
