Stock Market Scam - Latest News Update, Information, Photos & Videos on Stock Market Scam at Lokmat Times

A 44-year-old man from Karanjade in Panvel fell victim to cyber fraudsters, losing Rs 45.69 lakhs while investing in the stock market. The fraudsters enticed the victim with promises of high returns on investments in the share market through them. The victim began his stock market ventures after receiving a link on a Telegram account. Upon clicking the link, he joined a Telegram channel named "Broad Securities Group 50" where the group admin, who identified himself as Sharif Singh, provided stock tips twice daily. Encouraged by the prospect of recovering his losses in the stock market, the victim proceeded further.He was later directed to open an account at win.broadsecuritie.com for trading in the stock market. After depositing Rs 20,000, he commenced his investments and initially made profitable gains, which bolstered his confidence. However, the victim was gradually persuaded to make larger investments by the cyber fraudsters. Trusting their suggestions, he followed suit. According to the victim's account on win.broadsecuritie.com, the total investment and profit amounted to Rs 98 lakhs. When he attempted to withdraw a portion of his profits, he was instructed to pay 18% GST, which he did by taking loans. However, he was then subjected to various additional charges. Over time, he ended up transferring a total of Rs 45.69 lakhs as investments and withdrawal fees without receiving any returns.

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Stock market scam, Latest News

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