Vasant Vihar resident duped by fake investment scheme featuring actor

New Delhi: A Vasant Vihar resident was duped of Rs 1.86 crore by scammers who used a fake advertisement featuring an Indian actor to promote a fraudulent investment scheme.

According to the complainant, he was deceived after coming across a promotional video on Instagram. The video featured an actor purportedly endorsing an investment platform that promised high returns from short-term investments. Tempted by the offer, he registered on the website and was soon contacted via a social media application by individuals posing as investment advisors. They persuaded him to transfer funds under the guise of trading, ultimately cheating him.

One of the scammers began providing instructions on when to buy and sell securities for profit. They also arranged video calls to further persuade the complainant, falsely presenting inflated profit margins and offering misleading investment strategies to encourage additional investments. These actions induced the complainant to transfer funds under the pretence of legitimate trading activity.

Furthermore, the unknown accused, on multiple occasions, pressured the complainant into depositing money directly into various bank accounts, including through cheques, and sharing his bank statements, all under the guise of investment operations. Over a month, he transferred Rs 1,86,42,475 into multiple bank accounts, believing his investments were generating returns. However, these accounts were allegedly controlled by the fraudsters to siphon off the funds.

The scam was further made to appear legitimate through a forged "Client Agreement" sent by a purported parent company. During this process, the complainant also shared personal documents and banking information, assuming the trading activity was authentic. When no returns were received and the behaviour of the advisors became increasingly suspicious, he contacted them via email, only to receive evasive and misleading responses.

Despite raising concerns and requesting clarity, he was subjected to further deceit and unauthorised trades, ultimately resulting in substantial financial loss. A case was registered with the IFSO unit of the Delhi Police. "We have formed the teams to track the culprits," police added.