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The prevalence of scams is alarmingly on the rise, with more individuals falling prey to fraudulent schemes every day. Among these, investment scams have gained particular notoriety, where duplicitous promises of lofty returns lure unsuspecting victims, only for them to suffer substantial financial losses. A recent incident highlighted in the news involves a 51-year-old actor from Mumbai, known for his roles in various films and television series, who was swindled out of nearly ₹9 lakh by impostors masquerading as financial advisors. Here’s an overview of how the scam was orchestrated and preventative measures you can take to steer clear of such scams.
In February 2025, the actor, residing with his family in Goregaon, received a recommendation from a physician friend based in Jharkhand. According to reports from TOI, this friend urged him to invest in the stock market via a private firm that professed to deliver impressive returns. Trusting his friend’s advice, the actor permitted his contact details to be shared with the company.
The first contact came on February 6, when a woman, claiming to be a financial advisor from the company, reached out to him. She sent an email containing a link to establish an online investment account. To his surprise, the actor made an initial investment of ₹2,000 by scanning a QR code that she had sent via WhatsApp. This initial deposit was successfully reflected in his online account, adding a layer of credibility to the scheme.
In a related article, you can read about another alarming report where Google highlights a $1 trillion surge in scams, detailing how fraudulent travel sites and deceptive messaging have emerged as top threats for 2025.
Encouraged by the initial positive response from the company, the financial advisor and her associates continued their outreach, persuading him to invest additional funds. Between February and March, the actor ended up committing a total of ₹9.08 lakh. Remarkably, on March 14, he was able to withdraw ₹35,000 from the account, which further solidified his confidence in the platform.
By March 28, the online account miraculously displayed “profits” amounting to ₹84 lakh. However, this optimism was short-lived; the following night, the balance inexplicably plummeted, revealing a loss of ₹14,000. Confounded and alarmed, the actor attempted to contact representatives from the company for clarification, but he encountered silence. It soon became apparent that he had been deceived, prompting him to initiate a complaint with the authorities.
You may also find interest in another disturbing case where a Pune man lost ₹65,000 in a credit card rewards scam, illustrating the variety of tactics employed by con artists today.
