Sat Sep 13 18:07:59 UTC 2025: **Headline: Cybercriminals Swindle Over ₹1.3 Crore from Two Victims in Reliance Investment Scam**
**Bengaluru, September 13, 2025:** Cybercrime police in Bengaluru’s East Division are investigating a major online investment fraud that has defrauded a businessman and a retired employee of a combined ₹1.3 crore. The victims were lured with promises of high returns through schemes falsely associated with Reliance Capital Limited.
According to police reports, a 53-year-old businessman received a WhatsApp message in July from an unknown number, inviting him to invest in a “Reliance Capital Limited Primary Market Account.” He initially invested ₹50,000 and received a 5% profit the following day. Encouraged by this, he invested larger sums, eventually pouring in ₹18,99,940.23 for 42,381 shares. He was then pressured to invest even more in an IPO, totaling ₹81,09,404.16. When he was unable to pay the full amount, the scammers offered him a short-term loan, further entrapping him. When he tried to withdraw his profits of ₹1,26,28,000, he was told to pay exorbitant “brokerage charges” and “custodian charges” which rose to 23,00,000. After paying the amount, he was asked to pay 10% custodian charges of ₹12,00,000.This is when the victim realized it was a scam.
In a similar incident, a 63-year-old retired woman from Kodihalli lost ₹76 lakh after being added to a “Reliance user exclusive service Group” on WhatsApp in early July. She invested ₹76,55,264 in various stocks and IPOs based on recommendations within the group. When she requested a withdrawal in late August, she was asked to pay a 10% brokerage fee on her supposed profits, which she refused.
Police are urging the public to be extremely cautious of unsolicited investment offers, especially those promising quick and guaranteed high returns. They also advise individuals to verify the legitimacy of investment platforms and companies before investing any money.
First Piper 