Scammers are impersonating as chief investment officers of a US-based multinational bank to lure gullible people into paying huge amounts of money in investment scams. The scammers initially gain the trust of people and subsequently decamp with their money. Victims are added to the WhatsApp groups and channels run by the scammers using the name of the bank and the tag ‘Securities India Limited;.
These groups contain hundreds of members, with a mix of fake profiles and some real users. One of the scammers, introducing himself as chief investment officer and teacher Vikram Nadar, regularly posts investment tips. The scammer begins persuading the members to invest.
The fake members respond positively and post fake screenshots of the deposited amount and massive profits, giving a false impression of successful transactions. The scammers further trick their targets by asking them to download an app and urge the members to purchase the shares through that app. After downloading the app, victims who invest are given small returns to gain their trust, but after investing huge sums of money, the app locks them out.
In September, a retired Navy officer from Noida was cheated of `3.43 crores by an investment group, headed by Vikram Nadar. There are several tricks with which scammers try to catch the attention of people and lure them into the scam.
IPOs which offer heavy return on investment, schemes offering high returns with little to no risks, and experts and advisors giving free st.
