The intention of a trader who wanted to expand his business brought losses when he was cheated by a non-existent credit company.

Pahang Commercial CID chief Mohd Wazir Mohd Yusof said the 48-year-old victim claimed that he lost RM49,500 which he had paid in stages to a man who introduced himself as a representative of the credit company.

He said it was learnt that the victim had received a telephone call from the suspect around mid-November to promote the loan offered by the credit company which was supposed to have an office in Kuala Lumpur.

“The suspect was said to have succeeded in convincing the victim that the company had a licence and had a low-interest rate which attracted the victim to apply for a loan of RM80,000.

“The victim claimed to have made a deposit payment of RM1,600 online into the account supplied by the suspect as a sign of agreement to make the loan on last Nov 15,” he told reporters in Kuantan today.

Wazir said the victim was again contacted by the suspect a few days later to say that the loan had been approved but the victim had to make payment as processing fee before the money could be released.

The victim also claimed to have made numerous payments asked by the suspect in stages to various bank accounts which eventually reached RM49,500 and aroused his suspicion on the suspect.

Subsequently, the victim lodged a report at the Jaya Gading police station yesterday and investigation was being carried out under Section 420 of the Penal Code.

- Bernama