Mumbai Fraud: 52-Year-Old Doctor Was Duped Of ₹65.8 Lakh By Scammers Posing As Stock Trading Analysts

Mumbai: A 52-year-old doctor was duped of Rs65.8 lakh by scammers posing as stock trading analysts, claiming 50% profit in institution trading and 300 profit in initial public offering (IPO) investment. According to the police, the complainant is a resident of Andheri. On February 14, he got added to a WhatsApp group, which provided information about share market trading.

In the said group it was claimed that the investors would get 50% profit in institution trading and 300 profit in IPO investment. The complainant showed interest, and the scammer asked him to download a ‘trading app’ on his phone. The doctor also linked his mobile number and bank account details with the app. The complainant invested on multiple occasions in different beneficiary bank accounts provided by the accused.

Bogus What'sApp group probed

However, when the doctor did not get promised returns, he realised he had been duped. He then approached the police and got an offence registered. The complainant has provided details of the WhatsApp group floated by the scammers, their contact details, bogus trading application details and transaction details to the police in his complaint.

The case was registered under sections 120B (criminal conspiracy), 419 (cheating by personation), 420 (cheating and dishonestly inducing delivery of property), 465 (forgery), 467 (forgery of valuable security, will, etc.), 468 (forgery for purpose of cheating) of the Indian Penal Code