FPJ Cyber Secure: Malabar Hill Resident Scammed of ₹27 Lakh in Stock Trading Tutorial Fraud

Mumbai: The South Region Cyber Police have registered a case against an unidentified person for allegedly duping a resident woman of Malabar Hill of Rs 27 lakh by promising to teach her the process of stock market trading.

The woman fell victim to a man who claimed to be an expert in stock trading and assured her of good returns on investments. Tempted by the offer, she downloaded an app provided by the fraudster and invested a substantial sum of money. However, she encountered difficulties in making any withdrawals from the app, and the man stopped responding to her concerns. It was at this point that she realized she had been duped.

According to the police, the 50-year-old woman wanted to learn stock trading and searched for information online. Shortly after, she was contacted by a person who claimed to be an expert in the field and asked if she wanted to learn stock trading.

The caller identified himself as one Aditya Aggarwal and offered her a scheme where she could earn 10% on her investments. Impressed by the offer, the woman agreed. The accused then sent her a link to an app and instructed her to download it. He asked her to transfer money for investment and provided her with a login ID and password, explaining that she could view a virtual wallet showcasing her investments and profits.

The woman transferred money multiple times to the accounts given by the accused. However, when she attempted to transfer money from the wallet to her bank account, she encountered difficulties. Despite reaching out to the fraudster for assistance, he did not respond. The woman tried several times without success and realized she had been cheated. Subsequently, she approached the South Region Cyber Police.

A police officer stated that an FIR has been registered, and an investigation has been initiated. They are actively working to gather details about the bank accounts where the money was sent.