Kuala terengganu: A retired civil servant here lost RM97,933 after being duped by a fraudulent online investment syndicate.

According to BERNAMA News Agency, Kuala Terengganu district police chief ACP Azli Mohd Noor revealed that the 59-year-old victim encountered an investment advertisement on the TikTok application on May 14, which promised lucrative returns within a short period.

The victim initiated contact with the suspect through Telegram and decided to invest his pension funds. The suspect convinced the victim that he had earned profits from the investment, but required additional payments to release the purported returns.

In a state of desperation, the victim made multiple payments between May 20 and June 2, yet failed to receive any profits as promised. Realizing the scam, the victim lodged a police report at 8.24 pm yesterday. The case is currently being investigated under Section 420 of the Penal Code.