Penang: An engineer working in the Middle East lost over RM1.5 million to an online investment scam recently. Penang police chief Datuk Hamzah Ahmad revealed that the victim, aged 40, lodged a report with the Central Seberang Perai district police headquarters commercial crimes investigation division yesterday.

According to BERNAMA News Agency, the trouble began in November last year when the man became acquainted with a woman over the phone and developed a relationship with her. She eventually invited him to join an investment scheme called GoldenCrimson that promised attractive returns.

The engineer expressed interest in the scheme and was provided with a customer service number and a website link to register. His initial investment was RM90,510, which yielded returns of RM108,611, further boosting his confidence in the scheme.

Feeling assured, the engineer proceeded to make a total of 103 transactions to 31 different accounts, amounting to RM1,532,563, between December 2 and March 8. However, he realized he had been deceived when he was unable to withdraw RM4,131,671 through the app and was instead asked to provide additional capital to access his profits.

The case is currently under investigation, and authorities are treating it under Section 420 of the Penal Code.