Lokmat News Network
Chhatrapati Sambhajinagar
A 35-year-old executive from Hariram nagar was duped of Rs 38.46 lakh by cyber fraudsters who promised 200% returns on stock market investments with just a 20% service fee. The accused even posed as representatives of a reputed brokerage firm and used fear of SEBI blacklisting to extract more money. The scam unfolded over the span of a month, and a case was registered at Pundliknagar police station following a report by the Cyber Police on Tuesday.
The victim, Sheetalnath Wadkar, works for a tyre company and was added to a WhatsApp group on May 6 by an unknown number. A scammer claiming to be from “Interactive Brokers Pvt Ltd” convinced him to invest. After completing some online formalities, Wadkar made an initial payment of Rs 50,000 on May 14. Fake profits began appearing in a fabricated portfolio app soon after. Between May 23 and 31, he kept depositing money, lured by the illusion of rising profits. On May 27, he was threatened that non-payment would lead to SEBI blacklisting and police action. In panic, he transferred Rs 15.96 lakh more.
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Virtual profits, real loss
By June 10, Wadkar believed his Rs 21.34 lakh investment had grown to Rs 71 lakh. But when he tried to withdraw the amount, he was asked to pay Rs 17.12 lakh in “government tax.” The entire profit dashboard, it turned out, was part of a fake app designed to trap victims. Using this method, fraudsters extorted Rs 38.46 lakh over a month. The Cyber Police confirmed the scam in their report, after which a case was registered at Pundliknagar police station.