68-year-old consultant loses RM2.8 million to TikTok investment scam leading to police report in Kota Kinabalu

Summary

A 68-year-old consultant lost over RM2.8 million in a TikTok investment scam. The victim was lured by an investment advertisement for the "Clear Bridge Gold Community Gold Trading" and later joined a WhatsApp group. From October 2024 to January 2025, the victim made 48 payments totaling RM2,821,654 to 23 different bank accounts. The victim filed a police report in Kota Kinabalu, Sabah, on January 27 after realizing no returns were being made and being asked to make additional payments. In a related case, police arrested eight individuals, including seven Chinese men and one local man, for running a stock investment scam targeting Chinese victims from call centers in three condominium units in Sri Petaling. The suspects were arrested on February 5 and are being investigated under Section 420 of the Penal Code for cheating.