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54-year-old homemaker in Mumbai loses ₹54 lakh in investment scam via WhatsApp group "G8-5 Wall Street Information Sharing" operated by fraudsters posing as financial consultants

A 54-year-old homemaker in Mumbai lost approximately Rs 54 lakh in an investment scam. The fraudsters, posing as representatives of 'Nisha Financial Services Consultant Company,' contacted her via WhatsApp on Nov 13, 2024, offering high returns on stock market investments. They convinced her to pay Rs 33.73 lakh and later persuaded her to take a loan to pay an additional Rs 21 lakh. The scam continued when they demanded a 15% tax for selling the IPO, extracting more money. By Jan 2, 2025, the victim realized she had been defrauded after finding no response to her withdrawal requests and tracing her funds to multiple bank accounts. The scam involved a WhatsApp group named "G8-5 Wall Street Information Sharing" administered by individuals using names like Jeevan Professor and Aakash Assistant.