Gurugram man, 67, loses ₹93 lakh after investing in fake stock market platform

Police said that the victim, resident of Sector 31, alleged in his complaint that the suspects contacted him via a social media platform by impersonating officials of fake investment firm

A 67-year-old resident of Gurugram was allegedly cheated of ₹93.34 lakh in a cyber fraud case after being lured into investing in the stock market with promises of hefty returns, police said on Wednesday.

Police said the complainant alleged that he trusted the accused after they displayed false profits on a phishing application that they had asked him to download to track his investments.

Police officers said that the man, a resident of Sector 31, alleged in his complaint that the suspects contacted him via a social media platform by impersonating officials of a fake investment firm. They shared its website link and lured him into investing in lucrative shares and Initial Public Offerings (IPOs) in the stock market.

The accused allegedly assured the victim that his money would double or even triple within a month.

Police said the complainant alleged that he trusted the accused after they displayed false profits on a phishing application that they had asked him to download to track his investments. “Initially, the suspects even deposited money into his bank account terming it as his profit to win his trust,” a senior police officer said.

The victim realised he had been cheated after his attempts to withdraw his investment failed and the suspects asked him to make additional payments for taxes and processing charges. “The suspects stopped responding to his calls and messages and switched off their phones after he denied paying when he finally realised that he had fallen victim to cyber fraud and shared everything with his family members,” the officer said.

Public relations officer of Gurugram Police Sandeep Turan said the victim filed a police complaint, following which an FIR was registered against unidentified suspects for cheating and impersonation at the Cyber Crime Police Station (East) on Monday.

“Efforts are underway to freeze as much of the victim’s money as possible by tracing the bank accounts through an examination of the digital footprint and money trail,” he said.