A 61-year-old government official from Shahdara hunted a large-scale investment scam, causing a loss of Rs 1.2 crore for fraudsters as representatives of fake-based online shopping platforms. Scammers lured the woman to invest by promising high returns, and in a period of 78 days, she was cheated in investing her savings. The Times of India reported that the scam was started through a fake social media profile, which the woman considered real.

The official said how the fraud started when he was associated with the person presenting on social media in October last year as a “friend”. The person claimed to be a successful seller on the stage and assured the woman to join the app, presented as an online marketplace. Scammer assured her that she had been earning bigger profits for the last two years and the woman could do the same. The conversation later moved to WhatsApp, where the victim was directed how to invest his money.

Relying on the scammer, the woman registered on fake platforms and began to complete the order from the app using her funds. Over time, he handled 56 orders of about 1.28 lakhs (about 1 crore rupees), and the stage showed him a major benefit. However, when he tried to withdraw his earnings, the scammers began to introduce obstacles. He informed him that she missed out on time to complete some orders, which allegedly damaged her credit score on the app. To restore his credit and enabling the return, the scammers demanded a deposit of Rs 35 lakh.

Feeling stuck and desperate to fix her funds, the woman complied and deposited the demand. However, the return process was further delayed, and was asked to deposit an additional Rs 34.5 lakh to activate the withdrawal option. To meet these demands, the woman had to take a loan against her future funds, eliminating all her resources. Despite paying, the scammers continued to stop his return to various pretex.

He said, “I had no option but to deposit the amount. Once I deposited the money, my credit score was restored, and the customer service team told me that I can withdraw my wallet fund, ” He said.

The woman finally realized that she was scammed after consulting a cousin in Britain, which found that the stage was fraud. By that time, the woman had already lost her entire investment. He has now filed a complaint with the police, who are investigating the case.

To avoid falling in such scams, individuals are advised to verify the authenticity of online platforms before investing any money. It is important to be cautious with unknown contacts on social media, especially financial advice. It should be fully researched on any investment platform, and it is intelligent to consult with financial experts or reliable persons before making large financial decisions. Additionally, abnormally high returns promises should be approached with skepticism, as they often have a red flag for fraud schemes.