Retired school principal reports being duped by fake online investment scheme
A 65-year-old former principal from Kuantan filed a police report after losing his savings to a non-existent investment advertised on TikTok.
Acting Pahang police chief Datuk Azry Akmar Ayob confirmed that a 65-year-old former school principal from Kuantan lodged a complaint after discovering he had been defrauded by a fake investment operation. The scheme was first seen in a TikTok advertisement under the name Network 1 Agency Sdn Bhd, and the victim was later contacted by an individual claiming to be an agent through WhatsApp. Between late August and early October, he made 22 online and counter-based transactions, moving funds into six separate bank accounts as instructed.
To finance the investments, he used personal savings, sold property and obtained loans. No promised returns were received, prompting him to report the matter to Pekan police, where it is now being investigated under Section 420 of the Penal Code for cheating.
Why it matters
The case highlights the risk of online investment scams targeting vulnerable retirees.
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