Fraud Alert
Ex-LU Professor Scammed of Rs 7.7 Crore by Cyber Fraudsters
Lucknow: A retired Lucknow University professor was swindled out of Rs 7.7 crore by cyber fraudsters posing as investment advisors. The victim, 67-year-old Rajiv Ranjan Sharan, a resident of Sitapur Road, fell prey to the scam after being added to multiple WhatsApp groups promoting fraudulent investment schemes.
In September this year, Sharan was added to a WhatsApp group managed by one Meera Morgan, who introduced herself as the group administrator. The group description contained details of investment plans and stock market strategies. Sharan was soon added to another group titled “Zerodha Market DD” on September 12, where another administrator, Geetika Anand, claimed to be a market specialist providing share market advice.
“Meera and Geetika shared detailed analyses and recommendations about the Indian stock market. Their convincing insights and promises of high returns enticed me to invest,” said Sharan.
Following their instructions, Sharan registered on their website and began transferring money to the accounts they specified. Over time, he transferred Rs 7.7 crore to various bank accounts, lured by the promise of substantial profits.
However, when Sharan attempted to withdraw his investments, the fraudsters demanded additional payments for service charges, taxes, and consultancy fees. Hoping to recover his initial investments, he complied with their demands. Despite transferring the requested amounts, the fraudsters continued making excuses and demanded more money. It was then that Sharan realized the entire scheme was a well-orchestrated scam.
“I trusted their expertise and transferred funds as directed. Even after fulfilling all their demands, my money was not returned, and they kept asking for more under false pretenses,” he elaborated.
Brijesh Kumar, SHO of the cyber cell, confirmed that an FIR has been registered in the case. “We are actively investigating the matter and making efforts to trace the accused,” he said. The incident serves as a cautionary tale for individuals to be vigilant about unsolicited investment offers and avoid sharing financial information or making transfers without verifying the authenticity of such schemes.
It raises questions about the source of wealth, whether through legitimate means, investments, or undisclosed activities, prompting curiosity about the professor’s financial dealings and potential implications of his affluence.