A 56-year-old man has allegedly lost RM363,887.49 after attempting to purchase properties advertised as bank auction houses in Kuching for his family’s use.
Miri District Police Chief, ACP Mohd Farhan Lee Abdullah, said the victim reported the alleged fraud at Miri Central Police Station on October 15, according to a statement published on the police department’s official social media page.
Police said the complainant had known the suspect for approximately two years through their business dealings and personal friendship before the alleged incident occurred.
The case reportedly began in November 2025, when the victim expressed interest in buying a house in Kuching. The suspect allegedly presented five properties in Taman Abadi, claiming they were bank auction houses available at prices below their market value.
“In November 2025, the complainant intended to purchase a house for family use in Kuching. The suspect then allegedly offered five houses in the Taman Abadi area, Kuching, which were claimed to be bank auction houses at prices lower than the market rate.
“The suspect also offered to manage the purchase process, including the preparation of the Sales and Purchase Agreement (SPA) and property title transfer,” said the statement.
According to Mohd Farhan, the victim claimed to have transferred money to the suspect in several instalments from November 2025 to January 2026.
The payments were reportedly intended to cover deposits, land surveying expenses and fees associated with the Inland Revenue Board (LHDN), among other costs linked to the proposed transactions.
However, the arrangements allegedly failed to materialise, leaving the victim without the complete documentation required to establish ownership of the properties.
“However, the purchase arrangements were allegedly not completed as promised. The complainant also claimed that they have yet to receive complete documents proving ownership of the houses, despite contacting the suspect repeatedly for clarification,” he said.
Police are investigating the case under Section 420 of the Penal Code, which concerns cheating and dishonestly inducing the delivery of property.
Authorities have urged members of the public to exercise caution when considering property deals advertised at prices significantly below prevailing market rates.
Potential buyers are advised to verify the authenticity and ownership status of properties through official channels, seek advice from qualified lawyers and refrain from transferring funds to third-party accounts without conducting proper checks.
