Ludhiana: Dugri man duped of over ₹25 lakh in investment fraud
Police said that the victim invested money based on suggestions from two Whatsapp groups he was added to
The local police registered a case after a Dugri resident was allegedly duped of over ₹25 lakh by cyber criminals, officials said.
They said the victim, Puneet Sood of Dugri, was lured by promise of quick profits and invested a total of ₹25.62 lakh in online trading based on suggestions from the accused.
According to the victim, he realised he had been duped after the accused stopped responding to his calls and messages, and approached the police.
The first-information report (FIR) was registered at the cyber crime police station against the unidentified accused following a statement by Sood.
The complainant said that his mobile phone number was added to two WhatsApp groups related to ‘tricks and information’ about online trading.
He said the group administrators lured him assurances of profit and he invested in their business.
The complainant said he made the investments in multiple transactions. Sood approached the police in April last year and the case was registered following an investigation, the officials said.
Assistant sub-inspector (ASI) Paramjit Singh, who is investigating the case, said the case was registered under sections 420 (cheating and dishonestly inducing delivery of property) and 120 B (criminal conspiracy) of the Indian Penal Code (IPC).
He said the police are working to identify and nab the accused.