Invest Rs 99,999, earn Rs 1,39,999: How a 19-year-old instagram influencer scammed over 200 people of Rs 42 lakh

In today’s digital age, scams have become increasingly common, with fraudsters targeting unsuspecting individuals through various online platforms. From fake investment schemes to deceptive promises of quick wealth, these scams are constantly evolving, preying on people’s trust and desire for easy profits.?A recent case involved a 19-year-old student who managed to cheat over 200 people out of Rs 42 lakh by promising high returns, before being caught by authorities.??

Kashif Mirza, a class 11 student, exploited social media to lure users with false promises of high returns on investment.?

According to the police, Mirza, an "influencer" with a large Instagram following, claimed that by investing Rs 99,999 for 13 weeks, people could earn Rs 1,39,999.

To gain the trust of his victims, Mirza initially paid out some returns, encouraging them to spread the word to others.?

Authorities recovered a Hyundai Verna, a cash counting machine, phones, and laptops from him, and he has since been placed in a two-day police remand.

Experts urge potential investors to always research companies or individuals thoroughly before committing to any investments.

Fraudsters often promise guaranteed returns and operate without transparency, so it's essential to ensure that investment schemes are regulated by appropriate financial authorities.

Here are some simple ways to protect yourself from fake investment schemes:

• Research thoroughly: Check if the company is registered with financial authorities and look for reviews.
• Beware of too-good-to-be-true returns: Avoid investments that promise high returns with no risk.
• Check transparency: Ensure the scheme explains how your money will be used and the risks involved.
• Avoid pressure: Don’t rush into investments. Scammers often push you to act quickly.
• Verify the source: Ensure the person or organisation is properly licensed and regulated.
• Consult an expert: If unsure, talk to a certified financial advisor.
• Be cautious on social media: Don’t trust unsolicited investment offers on social media or messaging apps.

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