Ludhiana: Looking to make quick buck, man loses ₹50 lakh to fraudsters
A city resident lost ₹50.2 lakh to fraudsters who lured him on the pretext of investing for quick and huge benefits, officials said.
A city resident lost ₹50.2 lakh to fraudsters who lured him on the pretext of investing for quick and huge benefits, officials said.
The Moti Nagar police registered a first-information report (FIR) following a complaint by Vijay Kumar, a resident of Moti Nagar.
Kumar works in a Panchkula-based business consultancy firm.
The accused was identified as Vasava Pritesh Kumar Budhabhai, a resident of Gujarat’s Vadodara, Khema Ram of Rajasthan’s Barmer, Hemant Praveen Kumar of Jharoda New Delhi’s Majra and Ghusaram Sharma of Rajasthan’s Jodhpur.
Vijay Kumar said in his complaint that he was scrolling through social networking platform Instagram when he noticed an advertisement related to stock market investment. After he clicked on it, he was added to a WhatsApp group named ‘Sehroders Capital Online CA’.
He said that in that WhatsApp group, he saw the users discussing the ticks of investment. Some of the users claimed that they earned huge profits by making investments based on the tips they received from the group.
“I contacted the group administrators and invested money through another application named ‘SCIE’.
Moti Nagar SHO inspector Varinderpal Singh said a case was registered following investigation.