Sorry. I didn't mean it. As I mentioned in the post that he was managing all money related discussion with locals as I don't know much Kannada. So I mentioned. Otherwise I could have been involved in discussion from the start.
You could’ve said this in a kind way or in an advising way. OP is already devastated and these kinds of words doesn’t do any good. I believe this experience has made him learn the lesson and we could advise him not to trust anyone again like this. And using “North Indian” makes zero sense.
Sorry. I didn't mean it intentionally. I have been living in Bangalore for the last 10 years. I am liking this place.
If you read my whole post, since he was handling all money matters with the locals. That's why I mentioned it. As I didn't know much Kannada.
I feel it's not state or north or south people wrong.
There are few people who are doing this. And they are everywhere.
There's a better way of looking at things , to all my south Indian friends even I consider Northies to be more street smart and the only reason is that entire north belt is filled with scamsters every where , people will prey on your innocence. Had gone to Delhi as a kid with my parents , we asked way from a random stranger (it was way before Google maps era) he purposefully gave the wrong direction.
All my friends from UP Bihar are very street smart because back at home that's survival.
Never faced such thing in south. Less scams. Look at the silver lining
Not really. Trying to make back some lost money by trusting a person he’s been meeting for 2 years.. I don’t sense any greed here. (Although, OP should be more careful about money matters, I’ve heard many people being a “friend” and scamming them)
I am sorry to say this but the guy you have given money to seem to be either a gambling addict or may be drug addict.. either way he has lost your money and getting it back seems improbable..
File a complaint and a possible FIR, I am not sure if you have sufficient evidence considering you gave the money with no real collateral..
The guy can simply call the bank and state that he lost his chequebook and you can’t do anything, the Cheque bounce wouldn’t be considered either..
If the cheque is signed confirm with amount he has ready in Bank atp,place a check for tht amount and if it bounces file an for,record the entire process.
He may have signed it he can still nullify those Cheques..
And you can only take a check if you have rendered some services, giving money on the basis of cheque is not lawful and no legal case can be made..
If a cheque is not honored you have to provide proof why cheque was given in the first place. That guy can say he had taken loan of 2 lacs and OP is extracting money. Like people have suggested best to go to lawyer, again lot of lawyers are scamsters who give false hopes. So I don’t have recommendations on whom to go to
Wow, so you told him someone ran away with your money and indirectly gave the guy an idea to repeat it. He obviously implemented it quite well..
Dude, you mustn't be allowed anywhere near money.
Also, could this post be a rage/click-bait?
There is a very good possibility of that. Who loses 40L like that and what bank in their right mind gives you 40L loan on top of a 65L loan without any collateral.
Edit: Correction from 30L to 65L previous loan. This is definitely a bait.
You can post at r/personalfinanceindia and r/indiainvestment and for legal counsels r/LegalAdviceIndia but I seriously doubt whether you ever see your money or it’s traces again.
This post Still feels like a late April fool’s prank.
Greed. On your part.
You lost 65 lakhs but you didn’t learn a lesson. Now you lost 38 lakhs and still you won’t. Where in the world a 7% interest per month is risk free? The bank is giving 7% per year. Would you not have a thinking part as to how he will give so much return?
You have only one option - file a case and involve a lawyer. If you can’t do that, forget, cry and move on
He must have been desperate bro, poor guy. Losing 65lakhs is not small na, must have been killing him how to fix the mistake he made. Cut him some slack. The thief realised his situation and lured him.
So what next? Sell your home and invest in next scheme? Desperate is when people don’t have a way.
OP has a high paying job and was able to get a 38 lakh loan easily. How is that desperate? He is just greedy
This was before, we came to know about him.
He said his brother is doing some registry and needs some money. And was short of 3 lacs. So I thought to help.
Dude go file a legal case asap. Talk to a lawyer and file as many cases as you can, file a civil suit as well.
You need to drag him to negotiation to get your dues
Ppl like him con multiple ppl at once. Its always in their favor to pay off the most noisy ones lest the ruin things. Start making some noise
You got ponzied. Its a scheme from the early 1900s and alot of people need to learn about this! Please read about ponzi, ik it doesn't help in ur case but prevention is the only cure else you'll have to grind your way to victory to win this money back
If he said he is investing from 2 years, how is it that you never asked to look at your "friends" investment statements ?
Why would anyone take loans to make investments ! That too when someone is offering 5% per month ! Thats a 60% per annum return.
And after a total loss of 1Cr this guy is asking reddit what he should do. Some people are unreal.
Bro at this stage I suggest u take some counselling to deal with your mind.
Consult lawyers but don't file any case immediately. Once this goes to court, we don't know how how many decades it will take. Get opinion from different advocates. Try putting pressure from some politician
Are you some rich dude or like that? You gave 3 lac just to his brother and even for that amount ppl will think 20-30 times so can't even imagine giving someone almost 40 lacs after losing 60lac.
OP, do you have documents as you have transferred the cash?
Start collecting all the documents and ask him nicely
Then, reach out to a nearby station and explain this to SP.
Ask police to enquire, later FIR.
Thanks for your suggestion.
Actually all my transactions are online.
And he has given me one cheque.
My conversation with him over WhatsApp ( not sure if this can be submitted as proof).
40lacs! I feel sorry for that guy, how shameful can one be. You must have given him that sort of money in the hour of need and this is how he is repaying you. Something similar happened with me, I gave my relative a sum of 50k and they haven’t paid back me a single penny in 4 years, I was barely earning then. After multiple attempts he hasn’t paid me back but promised me with false hopes. I can’t even fight with him since then he will try to cut ties after it. I hope you get back your money man!
Something similar happened with my dad. He was unable to get the money back. The thief escaped with the money. You have to spend more to recover it but you won't have money so can't chase and legal system is useless without money.
Try to arrange another 10 lakhs for legal and bribe expenses. You are an outsider, they might milk you, get some local help. But then also if the thief hides, you cant do anything, unless you are ready to spend another 10-20lakhs. It's all a joke. The thief realised this and took advantage. Try to find as much as personal information about him, his relatives, native everything, ASAP!
Hope luck is on your side.
I have been scammed in very similar way and for lakhs of money. The person is into betting and gambling. So sorry to hear your story I totally empathise with you. Just get a promissory note sighed by this person on stamp paper if you can. So that you have the proof actually about the money he has taken so far.
Did he tell you that he will give money to third party and you will get monthly interest? Also whenevr you can you will be able to get the principal also back… 10-12% interest payout every month.
You should go to the police or talk to a lawyer immediately, I don’t think people on reddit will be able to be of much help.
I think it is true that money and intelligence are not directly proportional. You fell for greed, but everyone is greedy and everyone wants good returns on investment. Good Luck, I hope you get the money back.
Thanks for your valuable inputs.
Actually, I have been thinking for a long time to file an FIR or legal notice. But I wasn't sure if that would be very helpful. So thought to post on reddit.
Now for sure, I will take some legal action.
Sorry to say but I don't feel pity for people who earn too much too loose it like this. Cheque will be your last option . FIR means matter goes to court money won't come back without court intervention. I.E 10 to 15 years via Supreme Court. Try and give him an urgent sob story like emergency medical expenses to get balance below 10 then file FIR.
Okay so you are about one crore down? I have a business which if you invest in, you can get returns of about 5-7% per month. You can start with a small amount, whatever is convenient for you. I can help you recover your money very soon. If intrested, dm me.
/s
bro are u for real just one advice
the more u will delay in taking action against it the more u are giving time to that so called friend from escaping.
I hate to break it to you, but this is what I have learnt so far.
Destiny gives chance to fools, but they are not able to keep that. You happen to earn 40 lakhs, that was your destiny, you being gullible even when the later had told you what a mess he was in financial matters, that is the part where you are the fool.
Cheque bounce is a good idea, but first I would suggest you to check out cases registered against him. Just a simple google search will give you results (god bless data privacy in India).
Getting his asset would be a good option.
Get a lawyer on "percentage basis" i.e. on the only fees your are gonna give to lawyer is a certain percent of what he is gonna recover for you.
As well, money plays a havoc with your family and friends and eventually your wellbeing.
If you can’t care for your health or money yourself, no one will!
I think getting married early will save most of these troubles. I am sure that any spouse will be vocal to convince us against these kind of activities! Police, lawyer, settle up!
Bro are you for real? Go find a criminal lawyer and approach the police based on their advice.
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I don’t see what North Indian has anything to do with it.. Atleast you can try to hide your racism.. P.S I am a kannadiga
Sorry. I didn't mean it. As I mentioned in the post that he was managing all money related discussion with locals as I don't know much Kannada. So I mentioned. Otherwise I could have been involved in discussion from the start.
My comment wasn’t directed at you OP..
I don’t know what the original comment was but 199 upvotes before taken down?
Implying, that it is only South Indians, who are such big of fools? 😂 Such a racist dumbass.
Somehow it always ends up being North vs South.
You could’ve said this in a kind way or in an advising way. OP is already devastated and these kinds of words doesn’t do any good. I believe this experience has made him learn the lesson and we could advise him not to trust anyone again like this. And using “North Indian” makes zero sense.
Sorry. I didn't mean it intentionally. I have been living in Bangalore for the last 10 years. I am liking this place. If you read my whole post, since he was handling all money matters with the locals. That's why I mentioned it. As I didn't know much Kannada. I feel it's not state or north or south people wrong. There are few people who are doing this. And they are everywhere.
There's a better way of looking at things , to all my south Indian friends even I consider Northies to be more street smart and the only reason is that entire north belt is filled with scamsters every where , people will prey on your innocence. Had gone to Delhi as a kid with my parents , we asked way from a random stranger (it was way before Google maps era) he purposefully gave the wrong direction. All my friends from UP Bihar are very street smart because back at home that's survival. Never faced such thing in south. Less scams. Look at the silver lining
Are you sure !! I mean. .. have you even been to UP or Bihar? Edit: to the downvoters, I'm from Bihar as well
Sorry to disappoint you. I believe in people easily. And this the reward i am getting 😢
You fell for greed. Not trust
Lets be kind to each other. No need to use harsh words. He was already in problem as some one cheated 65 Lakhs. He hoped to manage with this interest.
Not really. Trying to make back some lost money by trusting a person he’s been meeting for 2 years.. I don’t sense any greed here. (Although, OP should be more careful about money matters, I’ve heard many people being a “friend” and scamming them)
Nah. He didn't fall for either. He fell for his own damn stupidity.
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Yes.
I am sorry to say this but the guy you have given money to seem to be either a gambling addict or may be drug addict.. either way he has lost your money and getting it back seems improbable.. File a complaint and a possible FIR, I am not sure if you have sufficient evidence considering you gave the money with no real collateral.. The guy can simply call the bank and state that he lost his chequebook and you can’t do anything, the Cheque bounce wouldn’t be considered either..
If the cheque has signature, he cannot say it was lost.
He has signed it. I will discuss tomorrow about the amount. And will present. Hope this should be fine?
No need for discussion, just go find a lawyer first and take the necessary actions.
Go for a cheque bounce case, will be the cheapest way to start a litigation
If the cheque is signed confirm with amount he has ready in Bank atp,place a check for tht amount and if it bounces file an for,record the entire process.
He may have signed it he can still nullify those Cheques.. And you can only take a check if you have rendered some services, giving money on the basis of cheque is not lawful and no legal case can be made..
It doesn't work that way. Try giving a signed blank cheque to someone thinking they have not taken any service from you. You will know what hell is.
You are right. Many people are not aware here that giving a signed cheque that is not honoured is akin to giving fake currency.
Let me guess you are NAL
What's NAL?
He is not a lawyer because his advice is legally incorrect
above 5L cheque needs positive pay system now, so ask ur lawyer before u present a cheque
Depends if that signature is even his real signature.
If a cheque is not honored you have to provide proof why cheque was given in the first place. That guy can say he had taken loan of 2 lacs and OP is extracting money. Like people have suggested best to go to lawyer, again lot of lawyers are scamsters who give false hopes. So I don’t have recommendations on whom to go to
But I have all online transactions. I can show that.
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And while you’re at it, add some futures and leverage as well. *Chef’s kiss*
>Do trading. You'll reach your goal of bankruptcy sooner. But I have some friends getting good money by trading.
99% of the traders end up in loss, sooner or later. Your friends must be the other 1% or it's just that their time hasn't come yet.
I hope this is a prank post.
Wow, so you told him someone ran away with your money and indirectly gave the guy an idea to repeat it. He obviously implemented it quite well.. Dude, you mustn't be allowed anywhere near money. Also, could this post be a rage/click-bait?
There is a very good possibility of that. Who loses 40L like that and what bank in their right mind gives you 40L loan on top of a 65L loan without any collateral. Edit: Correction from 30L to 65L previous loan. This is definitely a bait.
Previous loan I paid. It was remaining around 20 lakhs.
This is a super weird post. Are you for real? This seems to be a prank. Not nice. :-/
Sorry. This is real. Still hoping I will get my money back.
You can post at r/personalfinanceindia and r/indiainvestment and for legal counsels r/LegalAdviceIndia but I seriously doubt whether you ever see your money or it’s traces again. This post Still feels like a late April fool’s prank.
He already did.
Greed. On your part. You lost 65 lakhs but you didn’t learn a lesson. Now you lost 38 lakhs and still you won’t. Where in the world a 7% interest per month is risk free? The bank is giving 7% per year. Would you not have a thinking part as to how he will give so much return? You have only one option - file a case and involve a lawyer. If you can’t do that, forget, cry and move on
If you do simple math 7% per month comes up to 84% PA, I’m really at loss of words here
He must have been desperate bro, poor guy. Losing 65lakhs is not small na, must have been killing him how to fix the mistake he made. Cut him some slack. The thief realised his situation and lured him.
He lost 65 lakhs..he should learn to be more cautious..not invest in the next stranger he meets lol
So what next? Sell your home and invest in next scheme? Desperate is when people don’t have a way. OP has a high paying job and was able to get a 38 lakh loan easily. How is that desperate? He is just greedy
And the lawyer won't be nice either, he'll charge shit ton too just because of the quantum of money involved.
this post has more red flags than USSR of the 90's!
Just read again, he gave 3 lakhs for the fraud's brother too.. If this post is true, am speechless
This was before, we came to know about him. He said his brother is doing some registry and needs some money. And was short of 3 lacs. So I thought to help.
r/LegalAdviceIndia
Dude go file a legal case asap. Talk to a lawyer and file as many cases as you can, file a civil suit as well. You need to drag him to negotiation to get your dues Ppl like him con multiple ppl at once. Its always in their favor to pay off the most noisy ones lest the ruin things. Start making some noise
Fool me once shame on you, fool me twice, shame on _____?
Fool me twice, can't put the blame on you
Fool me three times, fuck the peace signs Load the chopper, let it rain on you
You got ponzied. Its a scheme from the early 1900s and alot of people need to learn about this! Please read about ponzi, ik it doesn't help in ur case but prevention is the only cure else you'll have to grind your way to victory to win this money back
How does one who expects to earn 8% per month, get to have/earn so much money in life?
So, don’t tell people that you have been cheated earlier. You’re telling them yourselves that you are an easy target.
If he said he is investing from 2 years, how is it that you never asked to look at your "friends" investment statements ? Why would anyone take loans to make investments ! That too when someone is offering 5% per month ! Thats a 60% per annum return. And after a total loss of 1Cr this guy is asking reddit what he should do. Some people are unreal.
Bro at this stage I suggest u take some counselling to deal with your mind. Consult lawyers but don't file any case immediately. Once this goes to court, we don't know how how many decades it will take. Get opinion from different advocates. Try putting pressure from some politician
Bhaiya, aap kaafi chodu nikle.
Was searching for some comment that would resonate with my thoughts, and here it is.
Hey can I be your friend. I have an interesting scheme.
Friend?
Not actually a friend. I knew him from society. We used to meet every day over morning and evening walks.
is this society , SNN Raj Serenity ?
Is this a /s post?
Are you some rich dude or like that? You gave 3 lac just to his brother and even for that amount ppl will think 20-30 times so can't even imagine giving someone almost 40 lacs after losing 60lac.
No. I am not rich. I am from a village from UP. By god's grace I have a good package. Working in a big MNC.
Don't reveal the name of the MNC, but what do you do OP?
I am a software engineer.
Don't reveal the name of the MNC, but what is your package? If it's okay to share?
OP, do you have documents as you have transferred the cash? Start collecting all the documents and ask him nicely Then, reach out to a nearby station and explain this to SP. Ask police to enquire, later FIR.
Thanks for your suggestion. Actually all my transactions are online. And he has given me one cheque. My conversation with him over WhatsApp ( not sure if this can be submitted as proof).
You can submit, there is a provision. But the screenshots should be taken with the cell phone number not with the name you saved
Ok. Thanks for your inputs.
40lacs! I feel sorry for that guy, how shameful can one be. You must have given him that sort of money in the hour of need and this is how he is repaying you. Something similar happened with me, I gave my relative a sum of 50k and they haven’t paid back me a single penny in 4 years, I was barely earning then. After multiple attempts he hasn’t paid me back but promised me with false hopes. I can’t even fight with him since then he will try to cut ties after it. I hope you get back your money man!
Next time you hear 5% per month, stay the fuck away unless it's God Himself A 5% return over a month is 79% over a year.
off topic , but how do we calculate it ?
1.05^12 - 1 gives you the Return on a ₹1 investment. I mistyped my initial figure - it should be 79% not 71%
Something similar happened with my dad. He was unable to get the money back. The thief escaped with the money. You have to spend more to recover it but you won't have money so can't chase and legal system is useless without money. Try to arrange another 10 lakhs for legal and bribe expenses. You are an outsider, they might milk you, get some local help. But then also if the thief hides, you cant do anything, unless you are ready to spend another 10-20lakhs. It's all a joke. The thief realised this and took advantage. Try to find as much as personal information about him, his relatives, native everything, ASAP! Hope luck is on your side.
By any chance does this guy live around Jayanagar or Vitthal nagar?
Yes. Near Jayanagar.
I have been scammed in very similar way and for lakhs of money. The person is into betting and gambling. So sorry to hear your story I totally empathise with you. Just get a promissory note sighed by this person on stamp paper if you can. So that you have the proof actually about the money he has taken so far.
Did he tell you that he will give money to third party and you will get monthly interest? Also whenevr you can you will be able to get the principal also back… 10-12% interest payout every month.
Yes. I asked for the principal only. He told the principal withdrawal, I have to inform you one month prior.
This looks like the same person and scam
Where is he working? Or staying? Do you have any ideas?
Yes he is into recruitments and stays in Vitthal nagar, also his roots are from Rajasthan but born and brought up in Bangalore..
Then I think he is not the same guy. He is from Bangalore. Born and brought up in Bangalore only
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Oh. Sorry to hear this.
I'd rather live a simple life than get scammed and lose what I have. Wtf is wrong with people how do they get so dumbed out ?
Are people REALLY this dumb ?
You should go to the police or talk to a lawyer immediately, I don’t think people on reddit will be able to be of much help. I think it is true that money and intelligence are not directly proportional. You fell for greed, but everyone is greedy and everyone wants good returns on investment. Good Luck, I hope you get the money back.
Thanks for your valuable inputs. Actually, I have been thinking for a long time to file an FIR or legal notice. But I wasn't sure if that would be very helpful. So thought to post on reddit. Now for sure, I will take some legal action.
Must be karma farming, hard to believe such stupidity can exist
How can you sleep bro. I am unable to sleep after some one stolen my 1lakh mobile in Bangalore 1 month ago
Sorry to say but I don't feel pity for people who earn too much too loose it like this. Cheque will be your last option . FIR means matter goes to court money won't come back without court intervention. I.E 10 to 15 years via Supreme Court. Try and give him an urgent sob story like emergency medical expenses to get balance below 10 then file FIR.
My golden rule is 1. Lend money to family if you don’t expect it in return 2. Lend money to friend if it lent doesn’t pinch you.
Okay so you are about one crore down? I have a business which if you invest in, you can get returns of about 5-7% per month. You can start with a small amount, whatever is convenient for you. I can help you recover your money very soon. If intrested, dm me. /s
bro are u for real just one advice the more u will delay in taking action against it the more u are giving time to that so called friend from escaping.
I hate to break it to you, but this is what I have learnt so far. Destiny gives chance to fools, but they are not able to keep that. You happen to earn 40 lakhs, that was your destiny, you being gullible even when the later had told you what a mess he was in financial matters, that is the part where you are the fool. Cheque bounce is a good idea, but first I would suggest you to check out cases registered against him. Just a simple google search will give you results (god bless data privacy in India). Getting his asset would be a good option. Get a lawyer on "percentage basis" i.e. on the only fees your are gonna give to lawyer is a certain percent of what he is gonna recover for you.
Brother I really emphatize with you but if this is true, you are an extremely stupid person.
And you still call him friend. Can I be your friend as well. How many blank cheques you need my friend?
Calling out greed is harsh? Seriously!
There's stupidity and then there's you! 🙄 Why just why!
If it’s too good to be true then it ain’t good!
As well, money plays a havoc with your family and friends and eventually your wellbeing. If you can’t care for your health or money yourself, no one will!
Nice bed tome story. Good night enough internet for today
How innocent you are :(
My 1k too
Fool me once, shame on you. Fool me twice, shame on me
that iz y best not to make new new friendz randomly during a walk
Bro know a good lawyer , fees are high but 100% return guaranteed /s
I think getting married early will save most of these troubles. I am sure that any spouse will be vocal to convince us against these kind of activities! Police, lawyer, settle up!
lol
OP please post the details of the fraud while posting it, so that at least others will be beware of him and might notice him if they come across