The case is being investigated under Section 420 of the Penal Code for cheating. NSTP/FILE PICKUALA LUMPUR: A 66-year-old retiree lost more than RM2.26 million after falling victim to a fraudulent investment scheme. Wangsa Maju police chief Assistant Commissioner Mohamad Lazim Ismail said the victim was first introduced to the purported investment company by an agent in 2023. He said the victim was briefed on the scheme and promised 10 per cent dividends every three months. It was previously reported that the woman claimed the agent, who had been managing her family's investments, introduced her to a fake artificial intelligence-based scheme.

Source: New Strait Times March 14, 2026 02:30 UTC