Navi Mumbai: BSF Official Loses ₹10 Lakh In Shares Investment Fraud

A Border Security Force (BSF) personnel has fallen prey to scammers and lost over Rs10 lakh in shares investment fraud. According to the Navi Mumbai police, the complainant, a resident of Koparkhairane, came across a post on his Instagram profile about shares investment in July this year.

The post further mentioned their expert guidance and tips and how investors have benefited after following their expert advice. 

The scammers then induced the complainant to join a WhatsApp group and asked to download a bogus trading app and over a period of time, the complainant ended up transacting Rs10.75 lakh through the said app. Later, when he checked his earnings on the app, it showed a profit of Rs19 lakh and could be withdrawn in September.

However, in September when he tried to withdraw his earnings, his requests were repeatedly denied. As the scammers avoided his phone calls and texts, he realised that he had been cheated.