Hyderabad: Businesswoman Loses ₹2.8 Crore in Fake Coffee Powder Scam Involving Brother

A 60-year-old businesswoman from Hyderabad recently fell victim to a massive scam, losing ₹2.8 crore through a fake coffee powder manufacturing company. The fraud, which involved six individuals, including her own brother, promised high returns by falsely claiming that West Indies cricketer Chris Gayle was a promoter of the company.

The scam started in 2019 when the businesswoman’s brother and his wife offered her an investment in a coffee company. They claimed the company, based in Kenya and expanding to the US, would give a 4% monthly return. To gain her trust, they showed photos and videos of Chris Gayle, making her believe he supported the company. They further told her the company’s owner was connected to them.

Believing her brother, the woman invested ₹2.8 crore. Encouraged by the initial returns and the success of the investment, she convinced friends and family to invest, which brought in an additional ₹2.2 crore. Other investors added another ₹70 lakh, bringing the total investment to ₹5.7 crore. Initially, the scammers paid returns, making the business look legitimate.

However, the payments eventually stopped. When the woman confronted her brother, he insisted that their children had verified the operations of the company in the U.S. Despite repeated requests for updates, the accused dodged her questions, and when she pressed further, her brother allegedly verbally abused her. Ultimately, out of the ₹5.7 crore invested, the victims received only ₹90 lakh in returns, leaving them with significant financial losses.

The woman filed a criminal complaint against the six people, including her brother, for organizing the scam. The authorities have started the investigation.