OKAYAMA (TR) – A 66-year-old woman in Okayama City has been defrauded of approximately 40 million yen after falling victim to a sophisticated investment scam she discovered on social media, reports Fuji News Network (Sep. 15).
The ordeal began in March when the woman clicked on an SNS advertisement for an investment seminar that promised to share lucrative stock picks. Intrigued by the offer, she joined a chat group where she was approached with an investment scheme.
Believing the pitch, the woman initially transferred around 7 million yen in cryptocurrency. The fraudsters then pressured her to sell off her physical gold bars to further fund the “investments.”
“The assistant was very clever and skilled,” the victim said while recounting the crime at a local police station.
Fabricated financial data
To keep the victim hooked, the scammers used a fraudulent smartphone app that displayed fabricated financial data, creating the illusion that her assets had skyrocketed to over 200 million yen.
However, the illusion shattered when the woman attempted to cash out her supposed fortune. The scammers suddenly demanded exorbitant fees in order to process the withdrawal. Suspicious of the sudden charges, she consulted her family, who helped her realize she had been conned out of her life savings.
Having lost roughly 40 million yen to faceless criminals, the woman expressed profound regret.
“I deeply felt how far people will go to deceive others,” she said. “You should be very careful about trusting people you have never actually met.”
