A Noida-based engineer was duped of Rs 42 lakh in a stock trading scam after being lured into investing through a fake online trading platform. Police said the victim, Raees Ahmed, a resident of Sector 134, realised he had been cheated when he was unable to withdraw his purported profits, as reported by TOI.
According to police, Ahmed, who works for a private company, came across an online advertisement in July that offered lucrative share market investments. After clicking on the link, he was added to a WhatsApp group where members shared screenshots of large profits and thanked the administrators, identified as “Priya,” “Anand,” and “Dayanand.” The group claimed affiliation with India Infoline (IIFL) and promised investors 15–20% returns.
To build credibility, the fraudsters first asked Ahmed to make a small investment, which they returned with profit. Encouraged by the initial gain, he continued investing over the next month. Between July 10 and August 5, he transferred Rs 42 lakh through 16 transactions to multiple bank accounts provided by the accused.
The fraud surfaced when Ahmed attempted to withdraw his funds, which the platform showed as a portfolio worth over Rs 1 crore. The fraudsters instead demanded Rs 12 lakh, allegedly as a 30% tax, before releasing the money. When he refused, they stopped responding and deleted all communication channels.
Ahmed later filed a complaint through the National Cybercrime Reporting Portal (NCRP) and at the cybercrime police station.
A senior police official told TOI, “We have registered an FIR based on the victim’s complaint. The bank accounts are also being traced. The accused will be identified soon.”
Police have advised residents to be cautious of online investment offers and verify the authenticity of trading platforms before making any financial transactions.
(With inputs from TOI)
According to police, Ahmed, who works for a private company, came across an online advertisement in July that offered lucrative share market investments. After clicking on the link, he was added to a WhatsApp group where members shared screenshots of large profits and thanked the administrators, identified as “Priya,” “Anand,” and “Dayanand.” The group claimed affiliation with India Infoline (IIFL) and promised investors 15–20% returns.
To build credibility, the fraudsters first asked Ahmed to make a small investment, which they returned with profit. Encouraged by the initial gain, he continued investing over the next month. Between July 10 and August 5, he transferred Rs 42 lakh through 16 transactions to multiple bank accounts provided by the accused.
The fraud surfaced when Ahmed attempted to withdraw his funds, which the platform showed as a portfolio worth over Rs 1 crore. The fraudsters instead demanded Rs 12 lakh, allegedly as a 30% tax, before releasing the money. When he refused, they stopped responding and deleted all communication channels.
Ahmed later filed a complaint through the National Cybercrime Reporting Portal (NCRP) and at the cybercrime police station.
A senior police official told TOI, “We have registered an FIR based on the victim’s complaint. The bank accounts are also being traced. The accused will be identified soon.”
Police have advised residents to be cautious of online investment offers and verify the authenticity of trading platforms before making any financial transactions.
(With inputs from TOI)
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