Mumbai: 47-Yr-Old Accountant Loses ₹7 Lakh To Fake Investment Scheme Promising 300% Returns

A 47-year-old accountant lost Rs7 lakh after clicking on an unknown link, which directed her to a fake investment WhatsApp group. The members regularly shared information about stock market seminars and lucrative profit opportunities, making her believe that they were genuine.

According to the Matunga police, the complainant, Sitalakshmi Iyer, has basic knowledge of the stock market and has even made a few investments. In March, she received a link on her phone and got added to a WhatsApp group after clicking on it.

The group's administrator, Priya Patel, lured Iyer to invest in the market, promising her 200-300% returns. Initially, the complainant transferred Rs4.8 lakh and subsequently gave the remaining amount after seeing her profits rise to Rs10 lakh on a bogus digital platform.

However, when Iyer tried to withdraw the funds, she was asked to deposit additional money. She then requested the scammers to deduct the commission from the profits and give back the amount which she invested, but they refused.

Iyer and her husband attempted to contact the scammers multiple times through calls and messages, but received no response.