70-year-old Chandigarh woman loses life’s savings of ₹2.8 crore in investment fraud

After making the investment, the company neither returned the principal amount not gave any interest, leaving the senior citizen financially devastated

A 70-year-old woman fell prey to a massive investment fraud, losing her life’s savings of ₹2.87 crore, police shared on Sunday.

The victim, a resident of Sector 16, was lured into investing in online trades and stocks with a company that promised high returns, said Chandigarh Police. (Stock image)

The victim, a resident of Sector 16, was lured into investing in online trades and stocks with a company that promised high returns. However, after making the investment, the company neither returned the principal amount not gave any interest, leaving the senior citizen financially devastated.

Police, who did not reveal further details, have launched an investigation to ascertain the modus operandi of the fraudsters.

A case under several sections of the Bharatiya Nyaya Sanhita, including 319 (2), 318 (4), 338, 336 (3), 340 (2), and 61(2), has been registered at the Cyber crime police station.