A 53-year-old consultant from Navi Mumbai has reportedly been cheated of over ₹50 lakh in an online share market investment fraud.
According to police officials, the incident began on August 22 when the victim received a message from a woman who claimed to offer training and guidance on share market investments. She later sent him web links on September 18, asking him to fill out online forms and download a trading application.
Following her instructions, the complainant started investing money through the fake app. He initially invested ₹1 lakh and was shown a profit of ₹10,000, which helped gain his trust. The fraudsters then convinced him to invest a larger amount, claiming that investing ₹50 lakh would bring significant returns. Between September 19 and 29, the victim transferred a total of ₹50.17 lakh to the scammers.
The bogus app later displayed that his balance had grown to ₹86 lakh. However, when he tried to withdraw his earnings, the fraudsters demanded an additional ₹50 lakh, claiming it was necessary to release his profits. At this point, the victim realised he had been deceived and approached the police to report the fraud.
A case has been registered for cheating and cheating by personation using a computer resource. The investigation is currently underway to trace the culprits and recover the defrauded amount.
Police officials have urged citizens to remain cautious while engaging in online trading activities and to verify the authenticity of trading platforms before making any financial transactions.
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