In yet another instance of cyber fraud, a retired professor from Andhra Pradesh lost almost Rs 2 crore after joining a WhatsApp group. The victim was included in a group that purported to offer investment advice.On June 18, the professor lodged a complaint regarding the scam.
Given that the professor was already acquainted with the company and possessed legitimate investments in the original Nuvama Funds, he presumed that the group was authentically associated with the firm. Consequently, he chose to move forward.Shortly thereafter, a woman identifying herself as “Kangana” reached out to him through private messaging, asserting that she was an agent of Nuvama. She instructed the professor to sign up on a website called ‘Nuvama Funds’. However, the site was a scam, skillfully imitating the branding of the genuine company. Convinced of its authenticity, the professor made an initial investment of Rs 10,000 on 19 April and promptly received a return of Rs 13,000. This modest gain further bolstered his confidence in the organization.
Motivated by this seemingly substantial profit, the professor allegedly invested a cumulative total of Rs 1.9 crore over the subsequent five weeks into what he perceived to be high-performing stock portfolios. By the end of May, the fraudulent platform exhibited an account balance of Rs 35 crore. Upon his attempt to withdraw Rs 5 crore, the scammers requested a processing fee.Despite having made this payment, the withdrawal was still blocked. In a state of desperation, the professor reestablished contact with the scammers and was introduced to another person, who claimed to be a senior official named Ashish Kehair. Nevertheless, the demands persisted, and no funds were refunded.
