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

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

According to the Matunga police, the complainant, Sitalakshmi Iyer, has basic knowledge of the stock market and has even made a few investments.

Poonam AprajUpdated: Monday, November 25, 2024, 02:25 AM IST
article-image
Representative Image

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. 

RECENT STORIES

Bombay HC Rejects PIL Seeking CBI Probe Against Pawars Over Lavasa Project, Says No ‘Roving...

Bombay HC Rejects PIL Seeking CBI Probe Against Pawars Over Lavasa Project, Says No ‘Roving...

Maharashtra: Police Arrest 9 Accused Within 24 Hours Of Shiv Sena Councillor Manasi Kalokhe's...

Maharashtra: Police Arrest 9 Accused Within 24 Hours Of Shiv Sena Councillor Manasi Kalokhe's...

ED Exposes 26 Fake Crypto Platforms: Flags Fake Websites And Cross-Border Money Trail

ED Exposes 26 Fake Crypto Platforms: Flags Fake Websites And Cross-Border Money Trail

Nalasopara Drug Bust: 37-Year-Old Nigerian National Arrested With Cocaine Worth ₹12.6 Lakh In...

Nalasopara Drug Bust: 37-Year-Old Nigerian National Arrested With Cocaine Worth ₹12.6 Lakh In...

Mumbai Cyber Fraud: Chembur Digital Marketing Firm Owner Duped Of ₹1.26 Crore In Fake Forex,...

Mumbai Cyber Fraud: Chembur Digital Marketing Firm Owner Duped Of ₹1.26 Crore In Fake Forex,...