IPOH: An oil and gas consultant lost over RM2.7 million to a fraudulent online investment scheme through a website to which he was introduced.

Perak police chief Datuk Noor Hisam Nordin said the 37-year-old victim lodged a report on June 29 after realising he had been deceived over a period spanning more than a year.

He said that in April 2023, the victim was introduced to the investment platform via a contact he met on WhatsApp.

"Trusting the individual, he registered an account on the website and began depositing funds with the expectation of high returns.

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"The victim initially deposited RM30,000 and was given login credentials to monitor his investments.

"Between Jan 5, 2024, and May 20, 2025, he proceeded to make 136 transactions to seven different bank accounts, totalling RM2,701,687," he said in a statement.

Noor Hisam added that the funds were sourced from both the victim's personal savings and family contributions.

"However, red flags began to emerge when the victim was repeatedly asked to make additional payments each time he attempted to withdraw his so-called profits.

"To date, he has been unable to retrieve any of the promised returns, and the suspect (who introduced the victim to the scheme) has become unreachable," he said.

The case is being investigated under Section 420 of the Penal Code for cheating.

Noor Hisam warned the public to remain cautious of unregulated online investment platforms, especially those promoted through social media or messaging apps.

"These schemes are often not regulated by recognised authorities and pose a high risk of financial loss," he said.

He said potential investors should verify the legitimacy of any investment company with relevant bodies, such as Bank Negara Malaysia or the Securities Commission Malaysia, before parting with their money.