Cyber Fraud in Hubballi: Family Loses Rs 97 Lakh in Fake Stock Market Investment

Hubballi: A 48-year-old housewife from Hubballi’s Basaveshwar Nagar recently fell victim to a cyber scam, losing approximately Rs 97 lakh. She was initially searching for online investment opportunities to gain insights into the stock market. During her search, she came across a link that led her to join a WhatsApp group named “B1, Vijay Bajaj Wealth Freedom Learning Group.”

The group was administered by a person named Vijay Bajaj (contact: 8349856448) and included a woman named Rama Lakshmi, who shared knowledge about stock market investments. They convinced the woman to download an application called “Bajaja SST” and encouraged her to invest.

Initially, she invested Rs 44,940, and the scammers returned Rs 52,000, creating a false sense of trust. Motivated by this initial return, her husband and son also started investing, with their cumulative investments eventually reaching Rs 97,50,953 in various installments.

When they stopped receiving returns or any communication about their investments, the family approached the Cyber Crime Police. An investigation is underway to track down the culprits and recover the lost amount.