Tag: investment scam
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Deepfake Investment Scam: Retiree Loses $4,000
Introduction: A High-Tech Trick Hits Close to Home In a troubling example of how convincing technology can mislead, a retiree in Singapore was lured into an investment scheme after watching a deepfake video. The clip, portraying a government minister endorsing a cryptocurrency opportunity, appeared credible enough to persuade the 75-year-old to part with more than…
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Melaka Police Bust Fake Investment Scam Run by Chinese Nationals
Melaka Police Uncover Fake Investment Scam Tied to Chinese Nationals In a decisive operation, Melaka police busted a fake investment scam allegedly run by four Chinese nationals after raiding an apartment in Taman Kota Laksamana on Tuesday evening. The raid, conducted around 8:30 pm, led to the discovery of what investigators described as a structured,…
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Accountant Loses RM138,000 to Fake Investment Scheme in Johor Bahru
Overview of the Incident An accountant from Johor Bahru became the latest victim of a polished, high-profit investment scam, losing more than RM138,000. The case highlights the aggressive tactics used by fraudsters to lure individuals with promises of rapid returns and risk-free profits. Local authorities are urging residents to exercise heightened caution when approached by…
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Ex-insurance agent’s bail-linked scam: investors lose over S$7 million in bogus scheme
Shocking Bail-era scam: A familiar face and a large sum The case of a former insurance agent, Alvin Koo Jing You, has drawn attention to how quickly legitimate-seeming offers can turn into sophisticated investment scams. At 39, Koo allegedly orchestrated an elaborate scheme that deceived family, friends, and other unsuspecting individuals into handing over more…
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Ex-insurance Agent’s Bail-Breach Scam: Over S$7 Million Pulled From Victims
Overview of the Case An ex-insurance agent who was already out on bail for earlier offences reportedly orchestrated a sophisticated investment scam that targeted his own family, friends, and other unsuspecting individuals. In total, more than S$7 million (about US$5.4 million) was siphoned from victims under the guise of lucrative opportunities, according to prosecutors and…
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Double Whammy: SEC Warns Against Swindlers Preying on Scam Victims
SEC Alerts Public to Double-Whammy Recovery Scams The Securities and Exchange Commission (SEC) has issued a strong warning about a troubling pattern where self-styled “recovery” or “advance-fee recovery” outfits target individuals who have fallen victim to investment scams. These schemes mimic legitimate assistance but are designed to defraud victims a second time by demanding upfront…