https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

IAS Officer Duped of Over Rs 1 Crore in High-Investment Return Scam

Authorities are probing the incident and tracing the suspect’s activities.
Indian Masterminds Stories

An IAS officer has filed a complaint with the Delhi Police, alleging that she was cheated out of over Rs 1 crore by a supposed investment expert who promised high returns. The complaint was registered at Tilak Marg police station, and authorities have launched an investigation. No arrests have been made yet.

According to the officer, a resident of Maharashtra, she was introduced to the alleged fraudster through a relative in Gurgaon last year. The individual presented himself as a financial market expert specializing in currency trading, boasting consistently high returns and handling investments worth Rs 60-70 crore. He claimed he was close to securing a license for independent trading but required additional funds to reach a balance of Rs 100 crore.

“During our meeting in Delhi, he demonstrated on his laptop the impressive returns he had achieved for other investors. He convinced me that if I entrusted him with my funds, I would receive substantial profits,” the IAS officer stated in her complaint.

Reluctant initially, the officer insisted her savings be kept secure and away from risky investments. However, reassured by the accused, she transferred Rs 1.9 crore to him between September and December 2023. The alleged scammer then claimed to have generated profits of Rs 75 lakh and promised that her investment would double by August 8.

In January, when the complainant requested partial funds due to a personal emergency, the suspect delayed payments and urged her to redirect her stocks, savings, and even her children’s Public Provident Fund (PPF) to his scheme, citing low returns in traditional investments.

By March 2024, the officer had received only Rs 25 lakh back, with repeated promises for the rest. Realizing she had likely been deceived, she filed a complaint with Delhi Police.


Indian Masterminds Stories
Related Stories
NEWS
Kiran Bedi resized
Former IPS Dr. Kiran Bedi Hails PM Modi’s Vision for Future Leaders -- the School of Ultimate Leadership (SOUL)
D Roopa vs Rohini Sindhuri_IASvsIPS
Bengaluru Court Directs Telecom Providers to Preserve Call Records in the 'IPS D Roopa vs. IAS Rohini Sindhuri' Dispute
Shaktikanta Das
Former RBI Governor Shaktikanta Das Appointed as Principal Secretary-2 to PM Modi
IPS officer IPS
MHA Directs Telangana to Relieve Three IPS Officers, Including Two DGPs, to Report to Andhra Pradesh
IAS Officers Indian Administrative Services (IAS)
2 IAS Officers Transferred in Gujarat, Mona Khandhar Made Principal Secy, Science & Tech Dept
Indian Foreign Services ..
Empanelment of 21 Indian Foreign Service Officers for Promotion to Grade-III - Full Details Inside
govt_assam_resized
Assam Extends IFS M.K. Yadava's Term as Special Chief Secretary (Forest) Despite Allegations
UPPSC_UPPCS_resized
UPPSC Releases Notification for 200 Vacancies in UP PCS 2025, Applications Begin on 20 Feb
Videos
Sharan Kambale IPS
"Dreams Don’t Have Shortcuts" - Sharan Kambale’s Remarkable UPSC Journey
WhatsApp Image 2025-02-16 at 13.44
He Got Cricketers Like Mohd Azharuddin & Ajay Jadeja Banned
K jairaj
K. Jairaj: A Bureaucrat Who Believed in Impact Over Transfers
ADVERTISEMENT
Latest
Kiran Bedi resized
Former IPS Dr. Kiran Bedi Hails PM Modi’s Vision for Future Leaders -- the School of Ultimate Leadership (SOUL)
D Roopa vs Rohini Sindhuri_IASvsIPS
Bengaluru Court Directs Telecom Providers to Preserve Call Records in the 'IPS D Roopa vs. IAS Rohini Sindhuri' Dispute
ADVERTISEMENT
Videos
Sharan Kambale IPS
WhatsApp Image 2025-02-16 at 13.44
K jairaj
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT