Man loses RM363,887 in alleged Kuching property auction scam
A 56-year-old man reported losing RM363,887.49 after making payments for five houses in Kuching, Sarawak, offered as bank auction properties at below-market prices. Police are investigating under the Penal Code for cheating.
MIRI (Oct 19): A 56-year-old man has reported losing RM363,887.49 after making a series of payments towards the proposed purchase of five houses in Kuching, Sarawak, which an acquaintance allegedly offered as bank auction properties at below-market prices.
Miri district police chief ACP Mohd Farhan Lee Abdullah said the man lodged a report at the Miri Central Police Station on Oct 15, according to The Borneo Post. The complainant had intended to buy a house for his family in Kuching in November 2025 when the acquaintance allegedly offered him five houses in Taman Abadi.
According to Mohd Farhan, the complainant had known the suspect for about two years through business dealings and friendship. The suspect allegedly offered to handle the purchase arrangements, including the preparation of sale and purchase agreements and the transfer of property ownership.
Mohd Farhan said the complainant claimed to have made several payments between November 2025 and January 2026 for the proposed purchases, including deposits, land surveying fees and payments purportedly related to the Inland Revenue Board (LHDN). However, the complainant alleged that the purchase arrangements were not completed as promised and that he had yet to receive complete ownership documents for the houses, despite repeatedly contacting the suspect for clarification.
Police are investigating the case under Section 420 of the Penal Code, which concerns cheating and dishonestly inducing the delivery of property. Investigators are also examining the status of the properties, the flow of payments and the possible involvement of other parties, according to Sarawak Tribune.
Police advised prospective property buyers to exercise caution when offered properties at unusually low prices, verify their status through official channels and seek advice from qualified lawyers. They also warned against transferring money into third-party accounts without proper verification.
