IPOH: An oil and gas consultant in Ipoh lost approximately RM2.7mil to a fraudulent online investment scheme, according to Comm Datuk Noor Hisam Nordin.

The Perak police chief reported that the 37-year-old victim realised he had been scammed on May 20 after continuously failing to withdraw the "profits" from the scheme.

Comm Noor Hisam explained that the victim registered on a website called "Nova 88" in April 2023, after learning about it from an acquaintance.

"Trusting the acquaintance, the victim initially invested about RM30,000 into a bank account provided to him to obtain a login name and password for the website to check his investment.

"Between Jan 5, 2024, and May 20 this year, the victim made 136 transactions into seven different accounts, totalling around RM2.7mil," he said in a statement on Tuesday (July 2).

"The funds were from the victim's own savings and contributions from his family members. Whenever he tried to withdraw the earnings, he was required to make more payments, but was still unable to access the money," he said, adding that a police report was lodged on June 29.

"The acquaintance provided excuses when questioned and has since become uncontactable," he added.

Comm Noor Hisam advised the public against engaging in investments offered on unverified or unregistered websites, or those not regulated by recognised authorities.

"High-risk investments like this can lead to significant losses," he said, noting that the case is being investigated under Section 402 of the Penal Code for cheating.

"Always check the background of the investment company with relevant agencies like Bank Negara or the Securities Commission before making any decisions," he added.