Woman Falls Victim To Investment Scam, Loses Jewelry And Over Rs 24 Lakh

New Delhi: In the pursuit of high returns in the stock market, individuals are often lured into investment schemes promising quick wealth. Unfortunately, many fall prey to such schemes, resulting in significant financial losses. A similar incident unfolded in Pune, where a woman found herself duped after getting entangled in a fraudulent investment scheme.

She ended up selling her jewelry and losing over Rs 24 lakhs. (Also Read: 6 Key Money-Related Changes Coming In April 2024)

How Scam Unveiled?

The victim, a woman from Pune, became a target of fraudsters who enticed her with promises of quick returns through a trading app. (Also Read: IPO Calendar: 11 Public Offerings To Hit Market This Week; Details Here)

According to reports from The Times of India, the scam took place between January 2 and February 4. The woman initiated her trading activities through a mobile app, which was downloaded at the behest of the scamsters.

Financial Losses

The fraudsters, masquerading as investment advisors, persuaded the woman to invest in a scheme offering high returns. Believing their claims, the woman poured her savings into the scheme and even sold her jewelry to invest more.

She received messages through the trading app, luring her with the promise of substantial profits. However, within a month, she lost over Rs 24.12 lakhs, falling victim to the scam.

The Police Report

The woman, realizing she had been deceived, lodged a complaint at the Sinhgad Road police station in Pune. As per police inspectors, she was continuously encouraged to invest more money in the fraudulent scheme.

The fraudsters provided her with four bank account numbers, into which she transferred the funds gradually.

Investment Fraud

This incident adds to the growing number of investment fraud cases reported in Pune. Over the past two months, the city has witnessed 117 cases of investment fraud, including another instance where a woman lost Rs 67 lakhs.

Authorities urge citizens to remain vigilant and cautious while investing and to report any suspicious activities to the cybercrime department.