A 50-year-old man from Saidabad was duped of ₹74.3 lakh in an investment scam by fraudsters impersonating representatives of well-known financial firms.
The victim was first contacted via WhatsApp on May 18 by persons claiming to represent ‘Citadel’ and ‘Axis Securities’. They shared links to what appeared to be legitimate investment platforms, promising daily returns ranging between 8% and 20%. Convinced by the presentation, the victim made initial investments of ₹1 lakh in each platform through IMPS. When he received a credited profit of ₹8,000 on May 20, he believed the scheme to be authentic.
