Business · India Bureau
Asian Games Gold Medalist Loses Rs 69 Lakh in Investment Fraud
Asian Games gold medal-winner Sarita Gayakwad has fallen victim to an alleged investment scam involving a sand business in Gujarat. Police said the athlete was defrauded of Rs 69.10 lakh by a man who promised lucrative returns.
LSN India ·
Sarita Gayakwad, an accomplished Asian Games gold medalist, has lodged a police complaint alleging that she was cheated of Rs 69.10 lakh in an investment fraud scheme. According to authorities, the accused promised the athlete substantial returns on investment in a sand business operating in Gujarat.
The fraud came to light when Gayakwad approached police with evidence of the transaction and communication records related to the investment proposal. Investigators said the accused had assured high profits from the sand mining venture, persuading the athlete to transfer the substantial sum.
Police have registered a case and initiated an investigation into the matter. The exact circumstances of how the accused gained Gayakwad's confidence and the timeline of the fraud are being examined by authorities.
Such investment fraud cases have become increasingly common, with con artists targeting individuals across various professions and social strata by promising unrealistic returns on business ventures. The case highlights the need for vigilance when approached with unsolicited investment opportunities, particularly those promising unusually high yields.