Batu Pahat police chief Shahrulanuar Mushaddat Abdullah Sani said the 67-year-old man first came across the scheme advertised on social media in December last year.

He said the retiree contacted a person through WhatsApp to obtain more information.

“The victim was promised a 50% return from the investment within three months. Believing the offer, the victim made several investments between April and July this year.

“In addition to transferring RM1.7 million to several accounts as instructed by the suspect, the victim also downloaded an app and registered an account to monitor the investment,” Bernama reported him as saying.

Shahrulanuar said according to the victim, the investment account showed a profit of RM2 million.

However, when he attempted to withdraw the money, the victim was told to make additional payments, which he refused to do.

“At the time the report was filed yesterday, the victim had not received any returns. The suspect could not be contacted, and access to the investment account had been blocked,” Shahrulanuar said.

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