Investment Scams Target Seniors, Huge Losses!

Across Ahmedabad, senior citizens are being targeted in sophisticated investment scams, losing lakhs of rupees. These schemes capitalize on the elderly's desire for financial security.

The Deceit Unfolds

In one case, a senior was added to a trial group for stock tips, and later tricked into downloading an app. Over time, the fraudsters gained his trust, even using a fake SEBI letter. The victim lost Rs 60.67 lakh within a month, highlighting the speed of the scam.

Bitcoin Bait

Another victim, a 66-year-old retired Indian Oil employee, was befriended on Facebook with promises of hefty Bitcoin returns. He downloaded an app and shared bank details, leading to the theft of Rs 55.10 lakh. The scammers even demanded a 30% cut from fictitious profits, showcasing their audacity.

The Financial Toll

In Ahmedabad, the total amount lost by two senior citizens exceeded Rs 1.15 crore. These scams exploit the financial aspirations of the elderly, who are often looking for ways to supplement their retirement funds. This incident underlines the pervasive nature of financial fraud.

Official Warning

Cybercrime officials have launched investigations, aware that seniors are prime targets. Scammers use lack of tech knowledge and financial aspirations. Families are urged to educate and guide elders against such 'too good to be true' investment schemes, safeguarding their savings.