Online Share Trading Fraud: Online share trading is a way in which you can buy or sell shares using an electronic platform through an online trading platform or app. For this you will not have to go to any broker, rather you will be able to trade shares by opening your demat account with an online broker. This is quite convenient, but it has many risks and there is a fear of getting scammed.
Rs 3.96 crore lost
A 48-year-old man in Thane, Maharashtra recently became a victim of online share trading fraud and incurred a loss of approximately Rs 3.96 crore. This person, who worked as a senior manager in a private company, lost this amount between May and October. In his complaint to the police, he told that first three people contacted him. One of them was WhatsApp group administrator Shankar Ramrakhiyanai, who claimed to be associated with a security company and the other was a woman, who was identified as a security person.
greed is evil
First the accused induced him to invest in shares and various equity market transactions and promised him huge returns. Under their influence, he transferred approximately Rs 3.96 crore to several bank accounts. To make everything appear correct in reality, the miscreants pretended to have trading links and structured schemes. Once the money was transferred they stopped contacting. Cyber police station of Thane city has registered a case on this on Wednesday and now the matter is being investigated.
A similar case recently came to light from Chandigarh, in which a person was cheated of Rs 13.55 lakh on the pretext of online share trading. First a woman, posing as a bank employee, contacted the complainant and advised him to trade through a trading app.
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