HIGHLIGHTS

It all began when the complainant accepted a friend request on Facebook from an individual named Manisha Sen.

The prospect of significant financial returns piqued the victim’s curiosity, prompting him to delve deeper into the interaction.

Sen subsequently sent an application link through WhatsApp, encouraging the complainant to set up an account and initiate investments.

In the digital age, social media platforms serve as essential tools for communication and interaction. Unfortunately, these same platforms are also increasingly being exploited for fraudulent schemes. A recent incident involving a 51-year-old businessman named Ashok Vaghasia underscores just how effortlessly one can become a victim of such scams. Vasghasia fell prey to a gold investment scam that robbed him of nearly Rs 28 lakh. Below, we will detail the alarming sequence of events that led to this unfortunate situation.

The saga commenced when Vaghasia received a friend request on Facebook from an individual purporting to be Manisha Sen. This person professed to have expertise in gold market investments and mentioned that her uncle, who resided in the United States, acted as her market advisor.

In addition to this story, you may be interested in the following article: Bengaluru man loses Rs 70,000 in traffic challan scam: Here’s what transpired.

The alluring promise of impressive returns intrigued Vaghasia, leading him to continue the conversation with Sen. She went on to share a link to a specific application via WhatsApp, persuading him to register and invest his money.

After making an initial investment of Rs 40,000—prompted by a modest return of Rs 6,360—Vaghasia’s trust in Sen deepened. Following her advice, he ended up transferring Rs 28.44 lakh into various bank accounts, yet he only received Rs 56,360 in return. When Vaghasia attempted to withdraw Rs 50 lakh from his account balance, which indicated he had Rs 50.4 lakh total, he ran into an unexpected roadblock, as reported by TOI.

At this juncture, the fraudsters escalated their tactics, demanding additional payments, purportedly for taxes and fees, before he could access his earnings. It wasn’t until he realized that there were multiple setbacks in withdrawing his funds that Vaghasia understood he had fallen victim to a scam.

For further insights, read about another distressing case: Bengaluru woman loses Rs 2 lakh after pressing ‘1’ on fake IVR call.

How to Protect Yourself from Similar Scams

• Exercise caution with unsolicited friend requests: When receiving requests from unfamiliar individuals—especially those who claim to offer investment opportunities—it’s wise to remain cautious.
• Conduct thorough research: Before making any investment decisions, investigate the background of the platform or individual offering advice. Avoid investing based solely on enticing promises of assured returns.
• Never disclose sensitive information: Refrain from sharing your banking credentials or transferring money without first verifying the legitimacy of the investment opportunity being presented.
• Report suspicious activity: If you sense anything amiss, do not hesitate to alert the authorities for potential action.