A case involving the cheating of two youths of approximately ₹79 lakhs has been registered. According to police information, the accused contacted the victims through different WhatsApp numbers and coerced them into joining WhatsApp groups named "Stock Dissection Group" and "Momentum Stock Community."
The accused gained the victims' trust by periodically providing information about stocks in the Upper Circuit. They then falsified their company credentials and convinced the youths to open accounts on trading platforms like Karma Capital Trading and White.
FIR lodged against culprits
Subsequently, the accused persuaded the victims to invest ₹7.15 lakhs in various bank accounts provided by them, supposedly for purchasing stocks and IPOs of different companies through these apps. Between September 15, 2023, and March 15, 2024, the accused fraudulently extracted a total of ₹78,78,600 from the victims via internet and phone transactions, as well as bank deposits.
Realizing they were not receiving the expected benefits despite their significant investments, the victims concluded they had been deceived. A complaint has been filed by the defrauded youths against the unknown fraudsters at the cyber police station. Senior Police Inspector Shaikh is currently conducting further investigation.
