A 55-year-old resident of New Panvel fell victim to cyber fraudsters, losing Rs 21.9 lakhs in a stock market investment scam. The fraudsters lured the victim with promises of high returns through investment apps, only to swindle him under the guise of various charges for profit withdrawal. In mid-January, the victim came across a message on Facebook advertising stock market trading, leading him to join a Telegram channel. On February 2, 2024, he received a trading message from a Telegram ID @Ravi_Sharma_73, who operated a group named Dream Club 73 with 128 members.
Already engaged in stock market investments, the victim expressed interest in the group's suggestions. They advised him to invest in the gold market for lucrative returns and shared a link to https://app.tradeok.net. Upon clicking, he accessed an app called ET5Webtrading and provided his personal information. However, he was informed that a minimum investment of Rs 2 lakhs was required.
Despite this, he initiated his investment with Rs 50,000 and joined a WhatsApp group named Fortune Club, comprising 199 members. Following their advice, he also downloaded another app called ALL-VC for investing in IPOs.
Trouble arose when he attempted to withdraw his funds but failed. Upon contacting the fraudsters, he was informed that he belonged to a VIP group and was instructed to deposit additional funds. Consequently, under the pretext of various charges, he transferred a total of Rs 21,96,003 by March 26, 2024 after which the fraudsters ceased communication.
A complaint lodged through the National Cybercrime Reporting Portal (NCRP) led to the registration of a case at Khandeshwar police station. The cyber fraudsters are being charged with cheating under Section 420 of the IPC, along with Sections 66C and 66D of the IT Act.