A 56-year-old store supervisor in Batu Kawan has lost over RM624,000 to an online investment scam involving a mobile application called XGI Horizon.
According to Seberang Prai Selatan police, the victim filed a report on Monday after discovering he had been cheated. Acting Penang police chief Datuk Mohd Alwi Zainal Abidin revealed that the scam began in early February when the victim saw a Facebook advertisement promoting high-return investments. Enticed by the offer, he contacted the male suspect via WhatsApp.
The victim was then instructed to download the XGI Horizon app, register as a member, and begin investing. Over the span of just two months—from February 18 to April 24—he made 31 transactions, depositing a total of RM624,617 into ten separate corporate bank accounts tied to different companies.
The scam only came to light when the victim tried to withdraw his alleged profits through the app but was asked to make additional payments before any funds could be released. That’s when he realised he had been duped and reported the incident to police.
The case is being investigated under Section 420 of the Penal Code for cheating, which carries a maximum penalty of 10 years in jail, caning, and a fine upon conviction.
