World · India Bureau
Asian Games gold medalist defrauded of nearly Rs 70 lakh in investment scam
Gujarat-based athlete Sarita Gaikwad, who won gold at the Asian Games, has filed a complaint after being duped of Rs 69.10 lakh in an alleged investment fraud. The accused promised monthly returns of 4 per cent on sand trading investments but disappeared after receiving online transfers.
LSN India ·
Sarita Gaikwad, a decorated Asian Games gold medalist from Gujarat, has become the latest victim of an investment fraud scheme that has cost her nearly Rs 70 lakh. According to her complaint, a man identified as Nitin Bharati lured her into investing in sand trading operations with promises of consistent 4 per cent monthly returns.
Gaikwad transferred the funds online following Bharati's assurances, only to discover that the money would not be returned. The athlete, who has represented India at major sporting competitions, said she attempted to recover the amount but was unable to trace the accused or retrieve her investment.
The case highlights the vulnerability of high-earning individuals to financial fraud schemes, particularly those promising guaranteed returns. Gaikwad's complaint has been registered with local authorities, who are investigating the matter and attempting to trace the accused.
This incident comes amid a broader pattern of investment fraud cases across India, where unsuspecting victims are lured through personal contacts and promises of above-market returns in commodities and trading schemes.