50-year-old Odisha man loses ₹2.36 crore to fake stock market WhatsApp investment scam
Summary
A 50-year-old man from Cuttack, Odisha, was scammed out of Rs 2.36 crore in an online investment scam. The fraudsters posed as stock market experts and lured him into a WhatsApp group promising high returns on investments. They initially showed him small profits to build trust before convincing him to invest in fake IPOs. When he tried to withdraw his money, the app displayed a 'Pending Review' status, and the fraudsters pressured him to repay a non-existent loan. After realizing he had been defrauded, the victim filed an FIR at the Cyber Crime Police Station. The Odisha Crime Branch arrested a fraudster and seized evidence including mobile phones, SIM cards, and financial documents.
Incident Details
Sources
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