By Admin 
Financial Frauds: This case once again shows that the victims of fraud are not only less educated people or those who are away from technical knowledge, but even highly educated officers who have held high positions can fall into the trap of cyber and investment fraud. In this very sad incident that came to light from Punjab, fraudsters made a retired IPS officer a victim of fraud of about Rs 8.1 crore by luring him of quick profits in the stock market, after which he committed suicide due to mental pressure and despair.
IPS in the trap of fraud
According to a Hindustan Times report, a person claiming to be associated with the Development Bank of Singapore (DBS) and its CEO contacted the officer and introduced himself as a wealth manager of the bank. After this, they were linked to WhatsApp and Telegram groups, where they were encouraged to invest in the stock market by luring them with high returns. Initially, trust was won by showing fake profits and then pressure was created to invest the same profits again.
Trusting the officer, he borrowed money from friends and family and invested a huge amount. Later, when he wanted to withdraw the money, the fraudsters asked for more money in the name of tax, fees and other charges, which he sent through bank transfer, but despite this he could not get his amount.
Embraced death after cheating
In the 12-page suicide note, the retired IPS officer wrote that this entire fraud is highly organized and many bank accounts are involved in it. He appealed to the police to investigate the matter thoroughly and if possible, the defrauded amount should be recovered and returned to his family.
This incident not only highlights the growing threat of cyber fraud, but also warns that vigilance and investigation are necessary before making any claim of “guaranteed returns” in the name of investment.
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