Online Share Trading Fraud: This man, a senior manager at a private company, lost this amount between May and October. He suffered a loss of approximately ₹3.96 crore.

Online Share Trading Fraud: Online share trading is a method where you can buy or sell shares electronically through an online trading platform or app. You don't need to visit a broker; instead, you can trade shares by opening a demat account with an online broker. While this is convenient, it carries several risks and the risk of fraud.

Loss of Rs 3.96 crore

A 48-year-old man in Thane, Maharashtra, recently fell victim to an online share trading fraud, losing approximately ₹3.96 crore (approximately ₹3.96 crore). He worked as a senior manager at a private company and lost this amount between May and October. In his police complaint, he stated that he was initially contacted by three people: Shankar Ramrakhiyanai, the WhatsApp group administrator, who claimed to be associated with a security company, and a woman who identified herself as a security guard.

Greed is a bad thing

The accused initially lured her into investing in stocks and various equity market transactions, promising her substantial returns. Under their influence, she transferred approximately ₹3.96 crore to several bank accounts. To make things appear legitimate, the perpetrators used the guise of trading links and a structured scheme. Once the money was transferred, they stopped contacting her. The Thane City Cyber ​​Police Station registered a case on Wednesday and is investigating the matter.

A similar case recently surfaced in Chandigarh, where a man was duped of ₹13.55 lakh under the pretext of online share trading. A woman, posing as a bank employee, initially contacted the complainant and advised him to trade through a trading app.