E-Paper
Clinical researcher loses ₹2.10 crore in share market fraud
As per the complaint, he received a call from a person claiming to be a Juhi representative of investment firm Sequoia Capital luring him to invest in stock market and get handsome returns
A 45-year-old clinical researcher from Thergaon in Pimpri-Chinchwad lost ₹2.10 crore between November 29 and December 30 in a share market fraud, according to the police.
As per the complaint, he received a call from a person claiming to be a Juhi representative of investment firm Sequoia Capital luring him to invest in stock market and get handsome returns. The accused sent a WhatsApp link to the victim to allegedly open a trading account (demat) and tricked him to transfer ₹2,10,50,000 by offering shares. Later, the accused asked the complainant to invest ₹4,33,50,000 more in IPO stocks. When the victim refused to pay the amount, his account was frozen and he was unable to recover the invested amount.
Ganesh Jawadwad, senior inspector, Wakad Police Station said, “The complainant had sold his property to invest expecting high returns.”
The police have urged the public to avoid unsolicited calls, emails or messages and alert authorities of any online fraud.
The police have filed a case against four unidentified persons based on the complaint filed on December 30 under Sections 406 (criminal breach of trust), 419 (punishment for cheating by personation), 420 (cheating and dishonestly), and 34 of the Indian Penal Code (IPC) and Sections 66 C and 66 D of the Information Technology Act.
