Korean trader loses RM1.2 million in rip-off

CP showing pic of suspect

KOTA KINABALU: A Korean businessman who was sweet talked by three persons, including a Filipino, into joining a business partnership that promised millions of ringgit in profits ended up Iosing RM1.5 million.

The trio, aged  44 to 58, claimed that their company had secured a government project worth  millions of ringgit.
One of the suspects, introduced himself to the victim as the chairman of national Housing Corporation  while another claimed to be a ‘Datuk’ according to Sabah Police Commissioner Datuk Hamza Taib.

He said the suspects told the 50-year-old victm that they would be building 1,036 low cost housing units  valued at RM250 miliion in Kampung Mandahan, Papar.


Hamza said the project was non-existent, and the documents and letters, that were shown to the victim were all forged.

Suspect Rasul Ibnu

The victim lodged a police report on May 10 after realising that he had been cheated by the suspects, Hamza told a press conference at the State Police Headquarters in Kepayan yesterday.

According to him, the suspects told the victim that their company would receive 95 per cent of the project.

Believing that the project was genuine, the victim made a couple of payments, including a bank transfer.

The victim only realised he had been cheated after he met and informed a friend inApril and was advised to verify all the documents.  A police report was immediately Iodged by the victim and the police managed to arrest two of the suspects, the Filipino and the Datuk, within 24 hours on May 10.

The third suspect, Rasul  Ibnu, who claimed to be the National Housing Corporation chairman is still at large. Those who know the whereabouts of this man should immediately inform fhe nearest police station, said Hamza.

He said the suspects were also involved in another case where a local man was cheated of about RM400,000 in a RM141 million road construction scam in Lahad Datu.