Maharashtra man, 83, loses Rs 1.2 crore to fake stock trading portal

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MUMBAI: An 83-year-old retiree from Dadar lost Rs 1.2 crore to a fake online stock trading platform that he was led to believe was linked to a reputable private financial institution, reports Ahmed Ali.
He was led to believe he had made profits of Rs 15.4 crore.
The complainant was targeted on May 2 after he clicked on an advertisement online, which led him to a WhatsApp group that purported to offer stock market investment tips. The group had 92 members, many of whom turned out to be fraudsters.
Lured by promises of high returns, he made investments of Rs 1.2 crore in all in weeks.
Cyber police's central division has lodged an FIR and is tracing the IP addresses of the fraudsters, gathering call records, and tracking digital and money trails. No arrest has been made yet.

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