Pune Man Loses ₹76.11 Lakh In Online Share Trading Scam
Pune Man Loses ₹76.11 Lakh In Online Share Trading Scam
A 42-year-old employee of a private company in Chinchwad, Pune, has become the latest victim of an online share trading fraud, losing a staggering ₹76.11 lakh. The scam occurred between November and December last year, with the victim finally lodging a complaint with the Pimpri Chinchwad cyber police on Wednesday.
According to the police, the victim was lured into the scam through a social media platform, where he was promised good returns on his investments in the share market. The scammers added him to a group of investors on a mobile messenger app and even shared URL links of training videos for trading in the stock market.
The scammers convinced the victim to transfer ₹76.11 lakh to different bank accounts between November 10 and December 31 last year, under the pretext of investing in block trading and Initial Public Offerings (IPOs). Whenever the victim tried to withdraw his money, the scammers cited various reasons and demanded more money from him.
The victim eventually realized he was being duped and stopped responding to the scammers. The Pimpri Chinchwad cybercrime police have registered a case under the relevant sections of the Information and Technology Act and are investigating the matter further.
This incident serves as a warning to others to be cautious when investing in the share market, especially online. It is essential to verify the authenticity of investment opportunities and to be wary of unsolicited offers promising unusually high returns.
