SHAH ALAM, June 6: Some RM6.7 million have collectively been reported lost from 101 cases of coffee vending machine investment fraud from January to April this year.
Selangor state police chief Datuk Hussein Omar Khan said initial investigations found that the victims were enticed by detailed explanations and representations about the vending machine investment offered by the suspect, which allegedly promised high returns.
Victims were convinced to make payments into bank accounts provided by the suspect.
“The victims were unsure whether the investment was legitimate. Initially, they received some returns, but over time, the payments stopped,” he said in a statement.
Investigation papers were referred to the Deputy Public Prosecutor’s Office but it decided that no charges would be filed under fraud-related offences.
In light of this, Hussein advised the complainants to pursue civil action to contest any breach of the contract agreement signed with the investment company and to recover their investments.
Members of the public are reminded to be cautious of investment schemes promising unrealistic returns, especially those promoted through financial apps or platforms not approved by Bank Negara Malaysia or the Securities Commission Malaysia.
They can contact the National Scam Response Centre (NSRC) at tel. no. 997 for verification, advice, or complain.
— BERNAMA