Coimbatore Woman Loses ₹1.66 Crore in Online Investment Scam

A 63-year-old woman from Vadavalli, Coimbatore, has reported losing ₹1.66 crore to cyber fraudsters in an elaborate online investment scam. The victim initially encountered an advertisement for an online trading firm on Instagram. After clicking the link, she was contacted by strangers via WhatsApp and Telegram who promised substantial profits within a short timeframe. To build trust, the fraudsters allowed her to withdraw small profits from initial minor investments. Encouraged by these early returns, the woman invested a total of ₹1.66 crore, comprising her husband’s business earnings and family savings, in multiple installments. However, when she attempted to withdraw her principal and accumulated profits, the scammers demanded additional payments for taxes and processing fees. Upon realizing she could not retrieve her funds, she filed a complaint with the cybercrime police. Due to the significant financial loss exceeding ₹1 crore, the investigation has been transferred to a specialized cybercrime team in Chennai. This case highlights the growing prevalence of social media-enabled financial fraud targeting individuals through deceptive digital platforms.