Cybercriminals allegedly stole Rs 51.36 lakh from a 53-year-old manager of a multinational paint firm by attracting him in with promises of huge returns on stock market investments. The cyber scam artists created a genuine online presence, complete with a personal account, to trick the victim into thinking he had made Rs 26 crore in profits.
The cyber fraud, according to the police, happened between May 8 and June 28. The complaint claimed to have come across an Instagram ad that promised major returns from stock market investments. Interested, he clicked on the link and joined the MSFL Stock Chart 33 WhatsApp group, which had about 140 members and Juhi V. Patel as the moderator.
The complainant made the decision to invest after watching the group’s operations. He created a login ID on a website known as Marwadi Financial Services after completing a form with personal information. On May 14, he invested Rs 10,000 initially. The following day, he invested an additional Rs 10,000.
The management was further satisfied with the criminal’s truth when they presented a return of Rs 22,915. This gave him support, and by June 28 he had sent a total of Rs 51.36 lakh into their account.
The manager attempted to withdraw Rs 30 lakh after the cyber scammers staged the virtual account to show an amount of about Rs 26 crore. Before completing the withdrawal, they now required an extra payment of Rs 80.55 lakhs for “commission.”
He filed an official complaint with the central cyber police station after becoming aware of the scam and reporting it to the Maharashtra police telephone number.
A case of cheating and fraud against unidentified persons has been reported to the police. “We have filed a fraud and forgery action against unidentified individuals. Through their bank account information and call history, we are attempting to track them down,” the investigator stated.
Do Follow: CIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter
About us:
CIO News is the premier platform dedicated to delivering the latest news, updates, and insights from the CIO industry. As a trusted source in the technology and IT sector, we provide a comprehensive resource for executives and professionals seeking to stay informed and ahead of the curve. With a focus on cutting-edge developments and trends, CIO News serves as your go-to destination for staying abreast of the rapidly evolving landscape of technology and IT. Founded in June 2020, CIO News has rapidly evolved with ambitious growth plans to expand globally, targeting markets in the Middle East & Africa, ASEAN, USA, and the UK.
CIO News is a proprietary of Mercadeo Multiventures Pvt Ltd.
