Cyber Fraud Sting: Man Loses Lakhs in Fake Stock Market Investment
A man from Thane district was defrauded of Rs 37.8 lakh by cybercriminals posing as stock market insiders on Telegram, police reported. They used fake documents from Standard Chartered Securities to appear legitimate. A case has been filed under the Information Technology Act.
- Country:
- India
A Thane district man was swindled out of Rs 37.8 lakh by cybercriminals who promised lucrative stock market returns, authorities revealed on Friday.
The victim, who hails from Kopri, was ensnared in a Telegram group that dangled insider trading tips. To lend credibility, the fraudsters waved a fake certificate from Standard Chartered Securities (India) Ltd., convincing the man of their authenticity.
From August 4 to 25, the unsuspecting investor lost his money, realizing the scam only after his expected profits failed to materialize. Authorities have registered an Information Technology Act case to investigate the matter further.
(With inputs from agencies.)
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