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Assistant VP of foreign bank loses Rs 11.4 lakh after cyber fraudster lures him into investing in share market

An FIR has been registered with the cyber police in Mumbai on November 26.

mumbai cyber fraudThe complainant told the police that the fraudster had a lot of knowledge about the share market and he was convinced to invest money in the share market through her. (Representative/ File)

A 36-year-old man working as an assistant vice-president of a foreign commercial bank fell prey to cyber fraud after the fraudster, impersonating as a woman from Singapore, lured him into investing in the share market promising heavy returns and made him deposit money through a fraudulent website. He ended up paying Rs 11.4 lakh but when he did not get any return, he realised he was cheated.

An FIR has been registered with the cyber police in Mumbai on November 26. The complainant told the police that last year in September he received a message on his WhatsApp from an unknown person who asked him about his health amid the pandemic. When the complainant told her that she had got the wrong number, she apologised and introduced herself as Lucy. She said she was from Singapore.

The complainant told the police that the woman kept chatting with her and sometime later he also started responding to her chats. He said the two got acquainted after which she asked him if he invested in the share market.

She sent him a screenshot of a transaction claiming she made Rs 2 lakh profit by investing in gold, silver and crude oil. When the complainant asked her if she is a professional share market trader, she said she follows the instructions of her teacher who tells her where to invest. She also told him that there is too much risk in the share market and so she is presently investing only in gold.

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The complainant told the police that the fraudster had a lot of knowledge about the share market and he was convinced to invest money in the share market through her. She sent him a link to a website where he had to register himself and make a top up payment of Rs 10,000.

The complainant followed her instructions and made the payment through UPI transactions. He kept investing money in gold and the fraudulent website’s account showed that he was making profit. In total he invested Rs 11.4 lakh till December 2021. He then asked her if he can withdraw the profit but she said there is some technical glitch.

She then gave the complainant a number, apparently of her teacher who helped her with the investments. He called on the number of the teacher who demanded Rs 5 lakh to help him withdraw the money. However, the complainant refused to pay and disconnected the call.

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When he got in touch with Lucy again, initially she kept giving evasive replies and later severed ties with the man. The complainant then realized Lucy was a fake identity used to dupe him and approached the cyber police in November this year.

First published on: 29-11-2022 at 20:15 IST
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