A 60-year-old Hyderabad businesswoman was allegedly duped of ₹2.8 crore by six people, including her brother, through a fake coffee powder company, with fraudsters falsely claiming West Indies cricketer Chris Gayle as a promoter to attract investments, The Times of India reported.
In her criminal complaint, the woman accused six individuals, including her brother, of orchestrating the scam. The fraudulent investment scheme, valued at ₹5.7 crore and promising high returns, resulted in significant financial losses for her and others involved.
Scam dates back to 2019
In 2019, the businesswoman was approached by her brother and his wife, who convinced her to invest in a coffee powder manufacturing company by promising a 4% monthly return. They claimed the company was based in Kenya and expanding to the US, The Times of India report added.
To build trust, the accused allegedly showed her photos and videos of West Indian cricketer Chris Gayle, falsely claiming he was the company’s promoter. According to central crime station officials quoted by The TOI, they also told her the company’s owner was known to them and that one of the accused was set to become a partner.
Believing her brother, the woman invested ₹2.8 crore and encouraged family and friends to invest another ₹2.2 crore. Additional investors put in ₹70 lakh, bringing the total investment to ₹5.7 crore. Initially, the accused paid returns, making the business seem legitimate.
However, payments eventually stopped. When the woman confronted her brother, he insisted their children had verified the US unit’s operations. Despite repeated requests for updates, the accused dodged questions, and when pressed further, the woman’s brother allegedly verbally abused her. Out of the ₹5.7 crore invested, the victims received only ₹90 lakh in returns.
Pune woman reportedly scammed of ₹3.16 crore in fake marriage fraud
In another similar case, a 45-year-old woman from Pune, Maharashtra, working in a corporate firm, was allegedly cheated of ₹3.16 crore by cyber fraudsters on a matrimonial site, The Indian Express reported. The fraudsters lured her with false promises of marriage.
The victim filed an FIR at the Cyber Police Station in Pimpri Chinchwad. According to a police press release, the woman, a resident of Wakad, connected with the fraudster in June 2023 through a well-known matrimonial website. Posing as an overseas businessman, he built an online rapport with her and later assured her of marriage.
Senior police inspector Ravikiran Nale, the investigating officer, told The Indian Express that between July 1, 2023, and September 9, 2024, the woman transferred ₹3.16 crore across multiple bank accounts through over 200 online transactions.
Following her complaint, police launched an investigation and booked the fraudster, his accomplices, and all bank account holders linked to the scam under sections 318(4), 316(2), and 3(5) of the Bharatiya Nyaya Sanhita, along with relevant sections of the Information Technology Act.