Mumbai: 49-Year-Old Mira Road Businessman Loses ₹72.80 Lakh In 35 Days To Stock Exchange Scam

A 49-year-old businessman from Mira Road who runs an aluminum lid manufacturing company was duped of a whopping Rs 72.80 lakh by cyber crooks under the guise of offering tips to earn profits by investing in the stock exchange. Notably, the businessman who was already a regular stock trade investor fell for the trap and lost the amount within a span of just 35 days between 4 August to 10 September, this year.

About The Case

In his complaint to the Kashigaon police, the businessman stated that he received a message on WhatsApp from an unidentified sender offering lucrative profits on investments in the stock exchange on the virtue of expert advice. After attending the tutorials being offered on the group, he started investing money from 4, August.

Within a span of just 35 days he had transferred Rs 72.80 lakh via 19 transactions to various bank accounts specified by the fraudsters. Although the application displayed that his investments had fetched him a profit of more than Rs.2.05 crore, he was unable to withdraw the money, following which he approached the office of the investment company in Lower Parel but was shocked to learn that the company no longer existed at the address.

Businessman Registers Complaint With Kashigaon Police Station

Realising that he was cheated, the businessman lodged a complaint at the Kashigaon police station following which an offence under the relevant sections of the Bharatiya Nyaya Sanhita (BNS), 2023 and provisions of the Information Technology Act-2000 was registered against the cyber criminals on Friday. In an attempt to revert the lost amount, the police are trying to trace the accounts in which the money had been transferred.