A RETIRED man’s dream of reaping high returns from forex investments turned into a nightmare after he lost RM104,844 to a fraudulent scheme orchestrated by two women posing as investment intermediaries, according to Kuala Terengganu police.
District Police Chief Assistant Commissioner Azli Mohd Noor said the 77-year-old victim lodged a police report at 4.47pm yesterday after realising he had fallen prey to a non-existent forex investment.
According to the report, the victim first connected with a woman identifying herself as Kelly via Facebook in late May.
“During the course of their online interaction, Kelly told the victim that her sister was involved in forex trading and had earned substantial profits,” Azli said in a statement.
On 28 May, the victim was contacted by another woman, who introduced herself as Lydia—allegedly Kelly’s sister. Lydia then offered the man an opportunity to invest in forex trading, assuring him that she would manage all the trading activities.
Initially convinced, the victim proceeded to transfer funds to Lydia. Upon seeing what appeared to be significant gains reflected in the online trading account, he attempted to withdraw his profits.
However, Lydia claimed the funds were flagged for potential money laundering and that the victim needed to make further payments to clear the withdrawal.
“Trusting her explanation, the victim carried out three transactions amounting to RM35,844, allegedly to facilitate the release of the funds,” Azli explained.
It was only when the retiree was asked for more payments—despite having already invested his entire savings of RM104,844—that he realised he had been duped.
The case serves as a stark reminder of the growing sophistication of online investment scams, particularly those targeting vulnerable individuals such as retirees.
Police investigations are ongoing. – August 5, 2025
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