Man Loses Rs 1.5 Crore After Clicking on a Money Multiplication Advertisement on Facebook
Man Loses Rs 1.5 Crore After Clicking on a Money Multiplication Advertisement on Facebook
Resident of Mangaluru Falls Victim to Cyber Scam Promising High Returns
In yet another unfortunate incident of a cyber scam, a resident of Mangaluru lost Rs 1.5 crore after falling for a wealth multiplication advertisement on Facebook. The victim came across a Facebook post highlighting ‘Jefferies Wealth Multiplication Plan’. The advertisement promised significant returns on investments and piqued the victim’s interest.
Intrigued by the opportunity to make a substantial profit, the victim clicked on the ad and followed the provided instructions. After clicking on the advertisement, he was asked to respond to a series of questions and provide his contact number. Subsequently, he was added to a social media group called “Jefferies Wealth Multiplication Center-223” on May 3. Within this group, members frequently shared screenshots of impressive returns they purportedly received from their investments. Thus,it created an illusion of legitimacy and success.
Encouraged by the testimonials and in the hope of easily multiplying his wealth, the victim decided to invest in the trading platform promoted by the group. Following his confirmation, the group admin, identified herself as Julia Stern. She provided a link to open a trading account. Trusting the admin’s guidance, the victim opened an account through the link and proceeded with the investment.
The victim transferred Rs 73 lakh and Rs 77 lakh in two separate transactions from his bank accounts, totaling Rs 1.5 crore. However, after transferring the funds, the victim was unable to reach the admin. Her contact number became unreachable, raising alarm bells for the victim.
Realizing he had likely fallen prey to a scam, the complainant promptly filed a report through the National Cybercrime Reporting Portal (NCRP). The Mangaluru Cyber Economic and Narcotics (CEN) police have registered a case and are investigating the matter.
This is not the first case of people losing money to trading scams. With rising cases of online scams around the country, being vigilant is the key. Here are some important safety measures to consider avoiding falling for such online scams
Before investing in any platform, do thorough research to verify its legitimacy. Check for official websites, contact information, and reviews from credible sources.
If you see a suspicious advertisement or believe you have been targeted by a scam, report it to the relevant authorities immediately
Be sceptical of advertisements promising unusually high returns with minimal risk. If an investment opportunity sounds too good to be true, it probably is.
Do not share personal and financial information on social media platforms or with unknown contacts. Scammers often use such information to exploit victims.
