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Akshaye Khanna Gets 100% Risk for Trusting “Double Your Money in 45 Days”

Actor Akshaye Khanna has been “duped” of Rs. 50 lakh by a couple that promised to double his money in 45 days.

(HT @madmanweb)

Actor Akshaye Khanna has filed a police complaint against an Andheri couple who allegedly duped him of Rs 50 lakh, claiming they would invest the sum in the commodity market with a promise to double it in 45 days.

"In October 2010, my client Akshaye invested the money in Intech Images, owned by the couple. They lured him with false promises of getting the money doubled in just 45 days. However, for almost three years, they continued to give him excuses instead of returning the money," the actor’s lawyer Rajendra Dhuru told TOI on Saturday.

Even smart people get lured in this industry because this industry abuses trust. Everywhere, there is some abuse of such trust, but in the financial world there are no repercussions, even for big names who do this kind of abuse – bankers who sell you insurance disguised as a fixed deposit, brokers who give you “tips” when they want to offload a stock, or even those that sell you great investment returns.

Here’s a quick question to ask if you hear of such mind boggling returns:

Why aren’t you putting your money behind this?

If this was such a great idea, the guy who’s selling you the idea must have money behind it. If you could double money in 45 days, you could take Rs. 1 lakh and convert it to Rs. 2.56 crores in one year. You can borrow that much money from a friend, from family, or against your car/gold. If someone isn’t doing that, but is looking to take your money instead, you must wonder why.

Collecting and retaining funds for management is largely a marketing exercise. It’s about how you spin your story. You might hear of the Akshaye Khannas, or even the Suchitra Krishnamoorthi but you will never hear of the countless unknown Indians who get suckered daily. The bankers won’t even spare the widows, the orphans and the needy.

In times like this, be cynical of all of them. If you do not have time to manage your investments, and do not make the time to cross-check the person who you give money to, you’re the sucker. Don’t be.

Note: if you are truly cynical, you will want to ask why Mr. Khanna filed a police complaint in October 2013, after his money was given in October 2010. Three years is an awfully long time!

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