Cyber frauds cheat many using share broking firm’s name; case registered

GEPL Capital has filed a police complaint against fraudsters using its name in fake WhatsApp groups, promising 200% returns for ₹3,000.

MUMBAI: An online share-broking and investment solutions firm, GEPL Capital Private Limited that operates from Dhanraj Mahal in Colaba, has lodged a case with the Colaba police against unknown frauds who allegedly opened various WhatsApp Groups in the company’s name and used the names of its senior executives to cheat people.

Cyber frauds cheat many using share broking firm’s name; case registered

According to the police, the fraudsters were charging ₹3,000 as entry charge and promising 200 percent profit any in any investment done through them. They were using the company’s letter head and logo to lure people and were promoting the WhatsApp groups on various social media platforms.

After several complaints were received by GEPL Capital, the company investigated and found out about the WhatsApp groups and registered a case in the Colaba police station.

“We have registered a case on the complaint of Subhas Sharma, an official from GEPL, a company that deals in share trading. Various officials of the company were getting calls inquiring whether they had opened WhatsApp groups to deal in stocks. Some people were cheated by frauds using the company’s name,” said a police officer.

Once a person becomes a member of one such group, the fraudsters tell him to invest through them to get 200 percent return in just two weeks’ time. Many joined and invested believing that GEPL Capital Private Limited was behind it.

“We have registered a case under 66C of the Information Technology Act (Punishment for identity theft) and are investigating the matter to trace the accused,” said the police officer.