Financial Educator “Spark Liang” Involved in an Investment Scam?!

A 54-year-old foreign woman lost her life savings of RM175,000 to an online investment scam that promised high returns within a short timeframe. The scam was orchestrated through a Facebook page named “Spark Liang.”

Scammers often exploit public figures due to their credibility and popularity. In this case, Spark Liang is known for promoting financial literacy and offering insights on wealth management and investments. His reputation attracts a wide audience seeking reliable advice. By impersonating him, scammers create a false sense of security and legitimacy, making it easier to lure unsuspecting victims into their fraudulent schemes with promises of high returns.

Johor Baru South OCPD Assistant Commissioner (ACP) Raub Selamat disclosed that the victim, a retired private sector manager, came across the fraudulent investment opportunity in October this year. She contacted the companys customer service via WhatsApp, where she was connected to a man posing as an investment consultant.

The scammer reportedly assured the victim of quick and substantial returns, convincing her to share personal details for registration. Subsequently, she was provided with further instructions from two additional WhatsApp numbers linked to a woman. The suspects persuaded the victim to make multiple payments, supported by claims of numerous successful clients.

Between 30 October and 10 December, the victim transferred a total of RM175,000 across seven transactions to three different bank accounts. Her attempts to withdraw the supposed investment returns were thwarted when the suspect demanded further payments. Realising the scam, she found herself unable to recover her funds.

Initial investigations revealed that the three bank accounts used in the scam had prior links to fraudulent activities. Using the “Semak Mule” platform, authorities identified a combined total of 35 reports tied to these accounts, which were involved in other investment fraud schemes.

The case is being investigated under Section 420 of the Penal Code for cheating. Conviction under this section carries a penalty of up to seven years imprisonment, a fine ranging between RM10,000 and RM100,000, or both.

ACP Raub urged the public to exercise caution when dealing with investment offers. He advised verifying the legitimacy of individuals or companies with the Securities Commission Malaysia and refraining from sharing personal or banking information with unknown parties. He also emphasised the importance of avoiding schemes promising large returns in a short period.

To prevent financial loss, ACP Raub recommended using the “Semak Mule” portal to check suspicious bank accounts before making transactions. He also encouraged the public to stay informed about the latest commercial crime tactics through official social media channels managed by the Commercial Crime Investigation Department on platforms such as Facebook, Instagram, and TikTok.

For victims of scams, ACP Raub highlighted the importance of immediately contacting the National Scam Response Centre (NSRC) at 997. Prompt reporting can help halt the transfer of funds to fraudulent accounts.

In response to the incident, public figure Spark Liang clarified on his verified Facebook page that he has never offered private group services. He explained that scammers have been impersonating him and urged users to remain vigilant.