Guwahati: Resident loses Rs 24.98 lakh in online scam

Staff reporter

Guwahati: A resident of Guwahati has fallen prey to a cyber scam, losing a staggering Rs. 24.98 lakh. The scam, operating under the guise of "International Equity Fund" (IEF), promised unusually high returns and was promoted through WhatsApp messages offering online trading opportunities.

The scammers, posing as a government-approved platform, provided fake documents claiming to be authorized to operate in India, despite being based in the United States. Initially, the scam appeared credible, as the fraudsters offered genuine returns on small investments, encouraging victims to invest larger sums with promises of even higher profits.

The scammers enticed individuals with offers of 50% monthly returns on investments in high-value stocks. However, once the victims increased their investments, the fraudsters began making excuses to delay payouts and ultimately demanded advance tax payments before releasing any earnings. Eventually, the fraudsters stopped communicating and claimed that the business had been shut down by the Indian government.

The Guwahati resident, who lost approximately Rs. 25 lakh, is among many others nationwide who have been duped by this scheme. A complaint has been filed with the Cyber Crime department, and an investigation is underway.

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