Businessman loses Rs 28L in gold investment scam

Rajkot: A 51-year-old businessman from Virpur has lost Rs 27.87 lakh to a gold investment scam involving cybercrooks who lured him with promises of substantial returns.
Ashok Vaghasia filed the case on Saturday under BNS Act sections 318 (4) and the IT Act against unidentified individuals and others with the Virpur police station in Rajkot.
According to Vaghasia's complaint, seven months ago he accepted a Facebook friend request from an individual who identified herself as Manisha Sen. She claimed to provide gold market investment guidance, mentioning her American-based uncle as her market advisor.
She convinced Vaghasia of high returns and shared an application link via WhatsApp, where he created an account. On June 20, 2024, Vaghasia invested Rs 40,000 initially and received Rs 6,360 as interest two days later in his bank account. Encouraged by this return, he started investing.
Following Sen's directives, Vaghasia transferred Rs 28.44 lakh to various bank accounts but received only Rs 56,360 in return. When he attempted to withdraw Rs 50 lakh from his account that displayed a balance of Rs 50.4 lakh in the application, he was not allowed to do so.
The fraudsters demanded additional money citing taxes and other charges. Upon realising no funds were forthcoming despite these payments, Vaghasia realised that he was a victim of fraud and approached the police.