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

'Detergent, Urea, Refined Oil': Alleged Milk Adulteration Racket Busted In Mumbai's Andheri; Viral...

'Detergent, Urea, Refined Oil': Alleged Milk Adulteration Racket Busted In Mumbai's Andheri; Viral...

'If This Isn't Scary, Don't Know What Else Is': Mumbai's Smog-Filled Skyline Seen From Alibaug...

'If This Isn't Scary, Don't Know What Else Is': Mumbai's Smog-Filled Skyline Seen From Alibaug...

BMC Elections 2026: Gangster-Turned-Politician Arun Gawli's Daughters Geeta & Yogita File...

BMC Elections 2026: Gangster-Turned-Politician Arun Gawli's Daughters Geeta & Yogita File...

Mumbai: BMC Issues Fire Safety Notice To NSCI Worli Amid Citywide Checks After Deadly Goa Nightclub...

Mumbai: BMC Issues Fire Safety Notice To NSCI Worli Amid Citywide Checks After Deadly Goa Nightclub...

Experience The Magic Of Winter Travel In Maharashtra; Here's Your Ultimate Travel Itinerary

Experience The Magic Of Winter Travel In Maharashtra; Here's Your Ultimate Travel Itinerary