Episode 85: The Pension Scam — When an Elderly Man Loses His Life’s Security to a Fake Investment Agent
Series: Broken by Burden: Financial Survival Strategies for the Troubled Mind
Date: 30-Sept-2025
🎭 Trust That Was Sold for a Promise
Characters:
- Harihar Roy (68): A retired railway clerk from Asansol, living modestly on his pension.
- Saroj Roy (65): His wife, practical and deeply protective of their savings.
- Arindam Roy (32): Their only son, working in Bangalore, busy with his own young family.
- Nilesh Sen: A smooth-talking “investment agent,” who preys on senior citizens.
- Mrs. Dutta: A neighbor who also fell for similar schemes but tries to warn Harihar.
- Inspector Kaushik: The officer who investigates after the scam.
🌳 The Background: A Man Who Saved Every Rupee
Harihar Roy’s life was built on discipline. For 35 years, he worked for Indian Railways, wearing the same brown sweater every winter and eating simple dal-rice.
His retirement corpus of ₹18 lakh (pension + PF + savings) was his life’s pride — meant for:
- Saroj’s medical needs (she suffered from arthritis),
- their modest home maintenance,
- and a small fund for Arindam’s future emergencies.
Harihar often told Saroj,
“We may not be rich, but we will never depend on anyone.”
🤝 The Smooth Talker Arrives
One morning, a polite young man visited the colony. He introduced himself as Nilesh Sen, claiming to be a representative of “National Senior Investment Schemes Ltd.”
Nilesh: “Uncle, your retirement money is lying idle in the bank. With our scheme, you can double it in 5 years — safe and government-approved. We only work for senior citizens like you.”
Nilesh showed fake brochures with government logos, gave references of “other investors,” and even mentioned a senior citizen bonus interest rate of 11%.
Harihar, flattered by the attention, invited him in for tea.
⚠️ Saroj’s Warning
Saroj, however, was cautious.
Saroj: “Hari, this sounds too good to be true. Did you check if this is RBI-approved?”
Harihar (gently): “Arre, Saroj. He’s so polite, and he even showed ID cards. Besides, our neighbor Mrs. Dutta said her brother invested here and gets monthly interest.”
Saroj (firmly): “That’s what worries me. We don’t know what’s real anymore.”
💸 The Fatal Decision
Despite Saroj’s hesitation, Harihar invested ₹12 lakh — his biggest chunk of savings — for a “5-year fixed plan.” Nilesh gave him glossy receipts and even promised ₹12,000 monthly interest.
The first two months, the money came on time. Harihar felt proud and told Saroj,
“See? I told you, this is better than the bank. Now we can finally repair the house roof.”
Then, in the third month, the payments stopped.
📞 The Vanishing Act
Harihar called Nilesh’s number — it was switched off.
He went to the address on the brochure — it was an empty office with a “For Rent” board.
His heart sank.
Saroj (panicking): “Hari! You mean our entire savings are gone?”
Harihar (shaking): “No… no, I must have made some mistake… he’ll come back…”
But deep inside, he knew — he’d been conned.
🗣 The Breakdown
When Arindam heard the news over the phone, he was furious.
Arindam (shouting): “Baba, why didn’t you call me before investing? You don’t understand these frauds!”
Harihar (choking): “I wanted to surprise you… to show you I can still take care of things…”
Saroj (softly, crying): “No one should lose dignity like this in old age.”
Harihar, who always prided himself on being cautious, couldn’t eat or sleep for days. He felt like he had not only lost money but also lost his self-respect.
🚨 The Fight for Justice
With Mrs. Dutta’s help, Harihar filed a police complaint. Inspector Kaushik told him:
“Uncle, these scams are everywhere now. They target retired people like you. We’ll try to trace him, but it’s a network — not just one man.”
The investigation dragged on for months. They managed to arrest one small agent, but the main culprits had already vanished with crores.
🧠 Character Psychology
- Harihar: Not greedy, but too trusting. His desire to “secure his family” made him vulnerable.
- Saroj: Felt helpless and angry, but never blamed Harihar.
- Nilesh: Represents the dark side of modern fraud — exploiting the loneliness and trust of elders.
- Arindam: Guilty for not being closer to his parents, but too late to undo their pain.
💡 What This Story Teaches Us
- High returns = high risk. If someone promises “double your money,” it’s almost always a scam.
- Elderly parents are prime targets for fraud. Families must educate and protect them.
- Always verify with banks or RBI websites. Any “government scheme” should have official documentation.
- Keep savings in diversified, safe options. Senior citizens should prefer post office MIS, PPF, or nationalized bank FDs.
💸 The Financial Cost
- Harihar lost ₹12 lakh, his emergency fund for life.
- Legal fees for the case cost him another ₹50,000.
- Saroj and Harihar now depend solely on ₹28,000 pension per month for all expenses.
🌱 Where They Are Now
Harihar never fully recovered from the shock. He no longer trusts any calls or visitors. He once told Arindam on a video call:
“Beta, I didn’t just lose money… I lost my confidence to decide anything.”
But Saroj holds his hand every evening, reminding him:
“We still have each other, Hari. That’s wealth too.”
Episode 86: The College Fee Trap — When a Parent Takes a Costly Loan to Fulfill a Child’s Overseas Dream
In the next story, a father mortgages his house to send his son abroad for higher studies. But when the dream falters, the entire family stands on the brink of losing their home and hope.
⚠️ Disclaimer:
This narrative is inspired by real incidents of pension scams and elder fraud. All names and incidents are fictionalized for privacy. Always verify investments with official authorities, especially for senior citizens.
Finance World 
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