A couple from Indirapuram, Ghaziabad lost a staggering Rs 3 crore in a cyber scam that originated from a misleading Facebook advertisement. Nabanita Mishra and her husband Mrinal Mishra fell victim to the scam that involved multiple transactions to various bank accounts between July and August this year.
The couple was enticed by a Facebook advertisement and subsequently added to a WhatsApp group supposedly affiliated with a renowned investment platform. The administrator of the group convinced members to participate in a competition named GTC, promising lucrative returns on investments.
Initially paying a monthly subscription fee of Rs 2,000 for investment advice, the couple was later persuaded to make significant transactions for shares and IPO investments based on information provided by the fraudulent company. The scammers even presented what appeared to be authentic SEBI registration details to gain the couple’s trust.
Operating through a WhatsApp group, the scammers shared details of transactions and profits, eventually pressuring the couple into taking an Rs 80 lakh loan to access their supposed investments. Despite being able to view their investment details and profits through the company’s app, the couple was unable to withdraw their funds and were instructed to pay taxes instead.
Suspicions arose when Nabanita attempted to invest in IPOs through different platforms but faced obstacles. Upon further investigation, she discovered alarming details about the company and its operations. All efforts to contact individuals involved in the scam, including other investors, proved futile as the phone numbers were traced to Rajasthan.
A case was registered under Section 66(D) of the IT Act and Section 318(4) (cheating) of BNS, emphasizing the severity and criminal nature of the scam. This unfortunate incident serves as a cautionary tale for individuals seeking investment opportunities online and underscores the importance of exercising vigilance and verifying the legitimacy of investment schemes.
To stay safe from online investment scams, it is advised to:
– Ignore unsolicited investment advice
– Verify the source of investment opportunities
– Ensure the company is registered with regulatory authorities
– Understand the investment product thoroughly before committing
– Refrain from sharing sensitive personal information
– Be wary of high-pressure tactics and promises of guaranteed returns
By adhering to these guidelines and exercising due diligence while exploring investment opportunities, individuals can mitigate the risk of falling prey to fraudulent schemes and safeguard their financial assets.
