200 People Duped Of ₹42 Lakh: How 19-Year-Old Social Media 'Influencer' Lured Victims


(MENAFN- Live Mint) The Rajasthan Police recently busted a fake investment scheme by a teen social media influencer. The imposter fraudulently cheated more than 200 people of about ₹42 lakh through a bogus investment scheme. The 19-year-old fraudster was identified as Kashif Mirza, who was arrested from Rajasthan's Ajmer, according to an NDTV report.

The state police on Monday informed that Kashif Mirza was a class 11th student, who targeted social media users by luring victims with fake promises that they could make substantial profits. According to police , the teen was an "influencer" and had a huge number of followers on Instagram.

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The report said that the 19-year-old persuaded the victims to invest in the scheme by guaranteeing that they would earn ₹1,39,999 after 13 weeks on an investment of ₹99,999. "Initially, he provided some investors with the profit so that they get influenced and tell more people," NDTV quoted a police official as saying.

Police recovered various items from him, including a Hyundai Verna, a cash counting machine, phones and laptops. He has been sent to a two-day police remand.

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  • Before investing in any scheme, plan or policy, one must carry out proper research about the company or individual.
  • One must ensure the credibility of the institution through online and offline research.
  • Fraudsters usually lack transparency in their investment strategies and offer guaranteed returns. The trick is to identify the loopholes in the investment plans.

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  • Furthermore, one must check if the investment company and the individuals offering the investment schemes are properly regulated by relevant financial regulatory authorities.
  • One must not share passwords and leave any documents that contain access to financial data in an unsecured area.
  • Notably, banks don't send emails or text messages asking for personal information such as account and/or social security numbers. Thus, any imposter requesting for verification of account information in this manner must be propmptly alerted.

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Live Mint

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