The Economic Times News

Even an ex-IPS officer fell for sure-shot stock market returns, lost Rs 8.1 crore to fake wealth managers from bank; lessons to be learnt

A retired Punjab IPS officer tragically attempted suicide after losing 8.1 crore to a sophisticated stock market scam. Posing as DBS wealth managers, fraudsters lured him with promises of high returns, leading him to invest his savings and borrow heavily. Despite paying hefty fees, his money vanished, highlighting the vulnerability even to educated individuals.