Man loses Rs 46L in investment firm fraud

A resident of Sector 29-B has reportedly been duped of over Rs 46 lakh in an investment fraud.

In his complainant lodged with the police, Akash Gupta has alleged that he initially invested some amount through an investment firm operating under the name “Prestige Earning Group”, which promised attractive returns.

Some persons, posing as officials of the company, made him make payments on account of administrative fees, taxes and security charges totalling Rs 22.31 lakh. He transferred a total of Rs 46.47 lakh to various bank accounts provided by the suspects. However, he got no returns on his investment and the company officials kept demanding more money. Gupta named Karan Kumar, purportedly a financial adviser for the company.