A 72-year-old retired resident of Bhuvaneshwari Nagar was allegedly duped of ₹5.36 lakh by cyber fraudsters who posed as former State Bank of India chairperson Arundhati Bhattacharya and lured him with promises of high investment returns.
According to police, the scam began when the victim was contacted through Facebook by a person using a fake profile created in the name of Arundhati Bhattacharya. The fraudster reportedly spoke about attractive business investment opportunities and persuaded the victim to share his contact details.
Soon after, the victim received phone calls from individuals claiming to represent a reputed investment network.
Fake investment scheme promised huge returns
Investigators said the fraudsters added the victim to a WhatsApp group that falsely projected itself as being associated with Reliance Industries. The group allegedly promoted investment schemes and claimed participants could earn substantial profits within a short period.
The victim was reportedly assured that an investment would multiply several times over and yield returns of nearly ₹60 lakh within nine months.
To gain his trust, the scammers allegedly used the names of prominent business personalities and corporate entities.
Victim transferred money over two months
Believing the claims to be genuine, the retired man transferred a total of ₹5.36 lakh to multiple bank accounts and UPI IDs provided by the fraudsters between April 1 and May 31.
The promised returns, however, never materialised. When repeated attempts to contact the group failed to produce any results, the victim realised he had fallen prey to a cyber fraud.
He subsequently approached the police and lodged a complaint.
Police begin investigation
A case has been registered under relevant provisions of the Information Technology Act and the Bharatiya Nyaya Sanhita (BNS).
Police have urged citizens, especially senior citizens, to verify investment offers before transferring money and to remain cautious of social media profiles claiming to represent well-known personalities or organisations.
The incident serves as another reminder of the increasingly sophisticated tactics used by cybercriminals to exploit trust and lure victims into fraudulent investment schemes.