Elderly Bengaluru Man Loses Rs 1.33 Crore in Sophisticated Online Investment Scam

A case was registered with the National Cybercrime cell following the incident. (Representational image)

Bengaluru:

A senior citizen aged 74 from Bengaluru has fallen victim to a sophisticated fraud, losing Rs 1.33 crore to an individual who falsely presented himself as a representative of a wealth management firm.

The victim, identified as Shivakumar, encountered the website 'Anand Rathi Wealth Limited' while browsing the internet. He contacted a number displayed on the website via WhatsApp and communicated with someone who introduced himself as Ankith Mahesh. This fraudster reportedly shared details about high-yield investment schemes and directed Shivakumar to download an application through a specific link - https://anewadmini.top.

Convinced by promises of substantial returns from stock market IPO investments, Shivakumar transferred Rs 1,15,50,000 from his Axis Bank account. He also transferred an additional Rs 18,00,000 from his relative Vinay Kumar's Canara Bank account. The total amount sent to the fraudster reached Rs 1,33,50,000.

On September 21, Shivakumar filed a formal complaint stating that Mahesh had neither returned his invested funds nor provided the guaranteed profits, making him realize he had been deceived.

Officials have confirmed that a case has been registered with the National Cybercrime cell and investigations are currently in progress.