Pekan:Pahang A retired teacher has reported losing more than RM1.1 million to a fraudulent stock investment scheme advertised on TikTok.

According to BERNAMA News Agency, Datuk Azry Akmar Ayob, the acting police chief of Pahang, stated that the 65-year-old victim was enticed by an online advertisement and began communications with an individual claiming to represent the investment firm via WhatsApp.

The victim received briefings on stock investments and financial market analysis, which led him to participate in the scheme. He proceeded to make 22 transactions to six different bank accounts using both online banking and over-the-counter services at financial institutions, from August 21 to October 7.

Despite completing the transactions, the victim was continually asked for additional payments. Realizing he had not received any returns, he suspected fraud and filed a police report at the Pekan District Police Headquarters.

The incident is currently being investigated under Section 420 of the Penal Code.