Bengaluru: Scammers impersonate finance firm, cheat man of Rs 1.16 crore

Bengaluru: Impersonating a company from Mumbai offering financial services, scammers cheated a Bengaluru man of Rs 1.16 crore.

Bengaluru: Impersonating a company from Mumbai offering financial services, scammers cheated a 59-year-old Bengaluru man of Rs 1.16 crore.

The victim Dileep N (name changed) from Nagarabhavi realised the con only when he couldn’t withdraw his money, which he thought he was investing with Systematix Group.

Dileep, in his complaint, said that on September 17, he saw an advertisement on Instagram related to trading. When he clicked on it, he was added to a WhatsApp group ‘C516Systematix Investment’.

The suspect Devanshi Parekh, the group admin, reached out to Dileep and shared the website www.systematixgroup.in/about-us, which belonged to the authentic company. The scamsters claimed that they were from Systematix Group, and since Dileep saw the website, he believed them.

Next, a person claiming to be Prof Vinit Maheshwari explained to Dileep about trading in the stock market and the large profit he was destined to gain.

Dileep was made to download a fake app, PrimeSysmt.

On September 22, Dileep began the so-called investment with Rs 50,000. Over the next 17 days, Dileep made several transactions amounting to Rs 1,16,36,777 to 11 bank accounts shared by the scammers.

“He believed he was gaining on his investment, as the fake manipulated app showed that the money he was investing in the stock market was making returns. Part of the lost money belonged to the victim’s friend, as per his statement,” a police investigator told DH.

A rude shock awaited Dileep on October 8 when he tried to withdraw the money, but was told to make more payments as charges. After waiting a few days, he approached the police on October 31, and an FIR was registered. Probe is on.

Company warns of fraud

When DH checked Systematix Group’s official website on Monday, it displayed a pop-up warning.

“It has come to our notice that certain individuals are attempting to mislead the public by falsely claiming 'Systematix Group' through fake WhatsApp Groups & unauthorised numbers under the names such as C908, C717, 46, 37, E57, A7, 27, 33, D37 - Systematixgroup Investment Group.

“Anyone interacting or transacting with such groups or individuals, without verifying their authenticity, shall be doing so entirely at their own risk, including any financial or other consequences.

"We strongly urge everyone, including our clients, to remain vigilant and not participate/subscribe to any such product/scheme being offered and rely only on official communication from Systematix Group,” the warning said.