Home -
Original -
Main body -

WikiFX Express

IC Markets Global
XM
KVB
FXTM
Elite Capitals
EC Markets
Saxo
Xtrade
Velos
Galileo FX

How Two Students Tried to Scam Millions from Their Own Family

WikiFX
| 2025-05-15 17:24

Abstract:Two international students’ attempt to fake a kidnapping and extort millions from a wealthy family has unravelled into a real-life legal drama.

20250515-171730.jpeg

Two international students are now facing serious legal trouble after a fake kidnapping plot in Malaysia went badly wrong. What was meant to be a quick way to get money from a wealthy family has instead become a clear warning about the risks of fraud.

On 2 May, Ye Yingxi, an 18-year-old Chinese student studying management in Kuala Lumpur, and his 23-year-old friend Zhang Runbao, a student at the National University of Singapore, carried out a staged kidnapping in a local hotel. Their goal was to convince Yes mother, who lives in Dubai, to send them RMB 5 million (about RM2.9 million).

The fake kidnapping was dramatic. In a video call, Ye appeared half-naked, tied up, and gagged. They even acted out scenes of waterboarding and abuse to make the situation look more serious. Yes mother flew to Malaysia immediately, ready to pay the ransom.

However, when she arrived, she realised something was not right. Instead of paying the money, she went to the Ampang Police District Headquarters and handed over two videos she had received. That was when the truth behind the staged kidnapping began to unfold.

Just two months earlier, Ye had told his grandfather that he had lost money in a fake cryptocurrency scheme and asked for RMB40,000 (RM23,937). When his grandfather refused, Ye appeared to come up with a bigger plan.

Police investigations led to the arrest of both Ye and Zhang. They have now been charged with attempted cheating under Section 511 of the Penal Code. This allows for up to half the maximum sentence under Section 420, which deals with fraud. They also face additional charges under Section 417, read together with Section 34, which covers fraudulent acts carried out by more than one person. If found guilty, they could face up to five years in prison or a fine.

WikiFX graphic.jpg

At a recent court hearing, Judge Azrul Darus granted both men bail of RM30,000 each, with two sureties. The judge also ordered them to surrender their passports. The case will be heard again on 27 May.

ending pic.jpeg
Investment Scam

Read more

Judge Reviews Sanctions Against CFTC in My Forex Funds Fraud Case

A New Jersey judge reviews sanctions against the CFTC after a special master accused the agency of bad faith in its fraud case against My Forex Funds and CEO Kazmi.

Original 2025-05-15 15:35

PJT Academy Scam: RM459,000 Lost to a Fake Trading Group

A 73-year-old retiree in Johor Bahru lost RM459,000 to an online investment scam operated by a group calling itself PJT Academy. The group claimed to teach members how to trade stocks using an app called 'USMSG', promising returns of up to 200%.

Original 2025-05-13 20:00

RM511K Lost in Whatsapp Investment Scam ‘Destiny On Your Hands”

A teacher from Georgetown, Penang, has lost RM511,000 after falling victim to an online investment scam run through a WhatsApp group named ‘Destiny On Your Hands’ that promised high returns.

Original 2025-05-13 19:57

Clicking on a Facebook Ad Cost Him His Life Savings of RM186,800

A 70-year-old retiree from Muar, Malaysia, lost RM186,800 of his savings after falling for an online investment scam that was advertised on Facebook.

Original 2025-05-09 18:19

WikiFX Express

IC Markets Global
XM
KVB
FXTM
Elite Capitals
EC Markets
Saxo
Xtrade
Velos
Galileo FX

WikiFX Broker

GTCFX

GTCFX

Regulated
Trive

Trive

Regulated
STARTRADER

STARTRADER

Regulated
HFM

HFM

Regulated
XM

XM

Regulated
OANDA

OANDA

Domestic Regulation
GTCFX

GTCFX

Regulated
Trive

Trive

Regulated
STARTRADER

STARTRADER

Regulated
HFM

HFM

Regulated
XM

XM

Regulated
OANDA

OANDA

Domestic Regulation

WikiFX Broker

GTCFX

GTCFX

Regulated
Trive

Trive

Regulated
STARTRADER

STARTRADER

Regulated
HFM

HFM

Regulated
XM

XM

Regulated
OANDA

OANDA

Domestic Regulation
GTCFX

GTCFX

Regulated
Trive

Trive

Regulated
STARTRADER

STARTRADER

Regulated
HFM

HFM

Regulated
XM

XM

Regulated
OANDA

OANDA

Domestic Regulation

Latest News

Short-Term Pressure Mounts on Gold as Risk Sentiment Improves

WikiFX
2025-05-13 14:37

How Will the U.S.-China Trade Deal Affect the Dollar and Global Markets?

WikiFX
2025-05-13 14:43

Radiant DAO Proposes Compensation Plan for Wallet Losses

WikiFX
2025-05-13 14:39

BitGo Secures MiCA License, Expands Crypto Services Across the EU

WikiFX
2025-05-13 15:55

Big Changes at Saxo Bank: What Traders and Partners Need to Know

WikiFX
2025-05-13 20:17

Traders Warned to Stay Alert Amid Growing Exposures for INGOT Brokers

WikiFX
2025-05-14 01:58

WELTRADE's transformation from Reliable to a Problematic Broker

WikiFX
2025-05-14 01:55

WikiFX “Elite’s View on the Challenge: Dialogue with Global Investment Leaders” Concludes Successful

WikiFX
2025-05-15 10:43

Plus500 Review 2025: Trusted CFD Broker with Top Features Unveiled

WikiFX
2025-05-15 12:20

Plus500 Q1 2025: Strong Growth Amid Trade War, Mehta Acquisition

WikiFX
2025-05-15 15:07

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

Caxton

Caxton

Netotrade

Netotrade

Trustbanc

Trustbanc

Smart Capitals Global

Smart Capitals Global

Plus5 Trade

Plus5 Trade

Exonnassests

Exonnassests

LatitudeFX

LatitudeFX

FUBON

FUBON

AlphaPipsTrade

AlphaPipsTrade

LINKBEX

LINKBEX