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A 79-year-old man in Kuching lost over RM9 million after falling for a fake share investment and IPO scam — and only got RM1,000 back.
The victim was approached by a suspect at Jalan Pending back in January 2026 and was offered a chance to invest in shares and IPOs through a platform called "TBGIA". Trusting the offer, he made 27 transfers into nine different bank accounts.
The total amount? RM9,082,000.
He only received RM1,000 in returns.
Kuching District Police chief ACP Alexson Naga Chabu said the victim realised he had been scammed when he couldn't withdraw his "investment" or the profits shown in the TBGIA app. The case is being investigated under Section 420 of the Penal Code.
Location: Jalan Pending, Kuching
Details: 27 transactions, 9 bank accounts, RM9.08M lost
Source: DayakDaily
️ Police advise the public to verify investment companies through Bank Negara Malaysia and Securities Commission Malaysia lists, and to use the Check Scammers CCID app or Semak Mule portal before making any transfers.
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