New Delhi: A businessman from Noida fell victim to an online investment scam and lost Rs 1.15 crore. He was tricked by a woman posing as a financial expert who promised high returns through fake stock market websites, reports say.
How the Scam Unfolded
It all started on January 27, 2025 when the businessman received a WhatsApp call from a woman named Rishita. She claimed to be a certified financial analyst. She shared links to two investment websites and urged him to sign up and invest.
He was initially cautious and decided to test the scheme with Rs 1 lakh on January 31. The next day he was informed that he had earned a profit of Rs 15,040 which he successfully withdrew. He gained confidence and decided to invest more after believing the platform to be genuine.
The businessman in the following weeks invested a total of Rs 65 lakh and believed that his money had grown to Rs 1.9 crore. The fraudsters kept reassuring him that his portfolio was thriving which made him feel confident about his decision.
However, when he tried to withdraw his profits in late February, things took a turn. The scammers started making excuses, demanding additional payments under various charges before releasing his funds.
Endless Demands and the Shocking Realization
The scammers first asked for Rs 31.6 lakh and claimed it was a ‘tax’ needed to process his withdrawal. Trusting them, the businessman made the payment in early March. But soon after, they demanded another Rs 18.6 lakh as a “conversion charge,” promising to release his money within 24 hours. Hoping to get his funds, he paid again.
Even after these payments, the fraudsters kept making new demands, asking for another ₹40 lakh. That’s when the businessman realized he had been scammed and decided to report it to the authorities.
How to Stay Safe from Investment Scams
– Verify Credentials: Always check if the financial advisor or platform is registered with official regulatory bodies.
– Beware of Unrealistic Promises: High returns with little to no risk are red flags.
– Avoid Pressure Tactics: Scammers often rush you into investing—take your time to research.
– Start Small and Test Withdrawals: If unsure, invest a small amount and check if you can withdraw profits before committing more money.
– Look for Secure Platforms: Only invest through well-known, regulated investment websites and apps.
