Online trading fraud: Retired official loses Rs 80.8 lakh

According to police, an FIR was lodged at CID Cyber Crime police station in Gandhinagar on Tuesday after Subhash Patel (64), former additional assistant engineer in the irrigation department of the Gujarat government.

A police man and some villagers were injured in the clash that followed.

Police have started probe after a retired official of the irrigation department in Gandhinagar lost Rs 80.85 lakh to scammers in online trading.

According to police, an FIR was lodged at CID Cyber Crime police station in Gandhinagar on Tuesday after Subhash Patel (64), former additional assistant engineer in the irrigation department of the Gujarat government, submitted a complaint stating that he lost Rs 80.85 lakh in a year to unknown scammers.

“On October 27 last year, I received a promotion message on WhatsApp regarding trading through Galaxy FX Trade company. On contacting the phone number mentioned in the message, one unknown person named Sanjay Patel received the call and took me in confidence into investing in trading,” said Patel in his complaint.

“From October last year to September 2021, the accused asked me to deposit various sums of money to the tune of Rs 80.85 lakh and he gave me fake screenshots of high returns deposited in my trading account in dollars. When I requested to withdraw the amount the accused told me the process would take 60 days,” patel added.

Taking cognisance, police booked a case under IPC 406 for criminal breach of trust and 420 for fraud.

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