Sarawak police commissioner Azman Ahmad Sapri said the victim, a company manager in Bau, fell for an ad “HY Your Investing Friend Pembelajaran Stok Market” on Facebook in September.

“The victim’s number was added to a WhatsApp group called ‘Stock Exchange Group’, and someone named ‘Jerry’, claiming to be the company’s financial manager, guided the victim in stock market investments.

“Intrigued by the suspect’s explanation, the victim invested through the website https://ccfea.com,” he said in a statement today.

The victim made five cash transactions amounting to about RM160,000 to two different companies’ bank accounts in October. He only realised he had been duped when he failed to withdraw the investment profit of RM20,000 after his account was frozen.

The suspect also instructed the victim to make additional payments, claiming it would facilitate the withdrawal of funds. The victim then filed a police report on Oct 28, Azman added.

The case is being investigated under Section 420 of the Penal Code for fraud.