Engineer from Bengaluru Loses 2.4 Crore in Fake US Stock Exchange
Techie from Bangalore lost 2.4 crore as he invested in the unauthorized application. The victim loses control of the demat account after paying the profit share.
Share market and investment are some of the easiest methods to earn some extra money. Many people across the world purchase stocks and liquidate them to get some additional funds. With these, the security measures have reduced quite a lot and fraudulent activities have also increased over the period.
In a mind-trenching incident, a techie from Bangalore was duped by nearly 2.4 crores after he invested money in an unauthorized application. The victim filed a case with the South CEN police station. In his complaint, the victim received a text message on WhatsApp from a US base number that claimed higher returns by investing with them.
The group named Chandra High-Quality Bull Plan Screening Group-XY36 invited him to purchase the stocks that would give lucrative returns. On 2nd July, the victim was made to register a telegram account worth 999 rupees where he would get daily updates on various stock options to buy.
On 25th July, the victim was asked to open a Demat account where a person named Jeevan Gopal had helped. The Demat account company was not available in any online store but had to be downloaded as an APK file. In sequence, he invested close to 2.4 crore rupees only to find out, being duped.
The victim upon trying to withdraw the money was asked to pay 30 percent of the profit. After paying close to 50,000 rupees, the victim found the account deactivated losing all money and hopes. Bengaluru police registered a case under sections 66D (Cheating by Personation) and 66D (Identity theft).
These cases have taken a toll on people as many similar cases are registered every year. This further brings the importance of safe transactions and not falling for any unauthorized lucrative offers.