Consultant absconds with investors' money

Consultant absconds with investors' money
Wanted man: ACP Chandra showing the picture of Raphael Fred.

KOTA KINABALU - Investors who handed over their money to a personal financial consultant from a bank for unit trust investments worth more than RM720,000 (S$258,000) were shocked to find out years later that the consultant had absconded with their money.

Raphael Fred, 43, allegedly never even deposited the monies with the bank, and is now missing when his clients wanted to withdraw some dividends upon the maturity of some funds.

Some of his clients started handing over money to him since 2009, as he allegedly helped them open up accounts for the investment.

Kota Kinabalu police chief Asst Comm M. Chandra said police are now hunting for Raphael following reports lodged by nine victims and the bank he worked for.

He said Raphael was last seen in May before he resigned from the bank that month.

"The reports we received between May 13 and July 21 involve losses of more than RM720,000, and we believe there are still some who have yet to lodge police reports," he said in a press conference here yesterday.

The bank the suspect worked for also lodged five reports against him for similar offences, ACP Chandra said, adding that the nine victims include contractors, businessmen and housewives.

However, after checking with the bank, they were told that the bank never received any money for any said unit trusts, said ACP Chandra.

He added that the suspect's family claimed they do not know of his whereabouts, while police believe he has already left Sabah.

Anyone with information on Raphael's whereabouts can contact the Karamunsing police or Insp Nor Dalilah at 013-6177158 or Sjn Muhd Effi Irfan Mohd Salleh at 017-7335283.

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