60-Year-Old Scammed of Rs 2.8 Crore by Brother Using Chris Gayle’s Name

Speedy Summary

• A 60-year-old businesswoman in Hyderabad filed a complaint against six people, including her brother, over a scam involving Rs 2.8 crore.
• She was led to invest in a fake coffee powder manufacturing company by her brother, promising a monthly return of 4%.
• The company was claimed to be based in Kenya with expansion plans in the US.
• The accused used photos and videos of cricketer Chris Gayle to gain trust, falsely claiming he was involved as a promoter.
• She influenced others to invest another Rs 2.9 crore, totaling Rs 5.7 crore of investment.
• Initially received returns stopped eventually; only Rs 90 lakh was recovered from the total amount invested.

Indian Opinion Analysis

The incident highlights critical issues relating to trust misuse within families and the need for caution when investing in seemingly attractive schemes promising unusually high returns. It underscores the importance of verifying claims independently before committing notable funds. Furthermore, using public figures like Chris Gayle without their knowledge emphasizes how easily recognizable names can be manipulated for fraudulent purposes. Strengthening regulatory oversight on investment plans could prevent such scams, protecting individuals from financial loss and fostering confidence among potential investors.

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