Online Trading Scam Alert: Vadodara Businessman Loses ₹95 Lakh, App Shows ₹19 Crore Profit
Beware of Unknown Ads: Businessman Cheated of ₹94.75 Lakhs in Vadodara
Before clicking on any unknown ads on your social media account, exercise caution. A businessman in Vadodara has fallen victim to a hefty scam amounting to ₹94.75 lakhs. Fraudsters, posing as traders offering online trading opportunities, duped the businessman by showing him a profit of ₹19.12 crores in their online app. However, when he requested to withdraw the profits, they demanded an additional ₹3 crores in taxes. Suspecting foul play, the businessman refrained from transferring more funds and lodged a complaint at the Vadodara Cyber Crime Police Station. The cybercrime unit has initiated a thorough investigation into the matter.
Vadodara Businessman Files Complaint after Clicking on Stock Market Investment Ad on Instagram
Rameshbhai Meghani (name changed) of Vadodara has lodged a complaint at the Vadodara Cyber Crime Police Station, stating that on February 19th, while at home, he came across an ad on his Instagram. The ad urged users to click for stock market investment tips. Upon clicking, he was directed to join a WhatsApp group named ICICI Securities 98, which had numerous members. In this group, tips about the stock market were provided daily via four different mobile numbers, offering insights on buying and selling for various trades. During this period, he also joined another WhatsApp group, E(1) Trades Titans, through another ad.
Discussion on Trading Plan to Earn 50 Takas Profit
I received a message regarding a trading plan to earn a 50 Taka profit in the ICICI Security 98 WhatsApp group. Upon contacting, I was instructed to download the PICICR application from the Google Play Store. After downloading the application, I registered by creating a user ID and password. The application, which is currently unavailable on the Play Store, provided various features such as trading advice, IPO listing, income statements, and profit contests for allocation.
Commencement of Depositing Money in the Application
The application displayed real-time stock market prices, which instilled confidence in me. It was communicated that the application hosts a profit contest where daily voting earns you 5,000 rupees every fortnight. To participate, I was asked to link my Aadhaar number with the application, which I did. Following this, they instructed me to deposit 5,000 rupees on March 23rd, after an interval of a fortnight.
IPO First Day Listing Shows 66 Taka Gain
Subsequently, I received a message stating that I would need to deposit money to participate in the IPO and that the application showed a 66 Taka gain on the first day of listing. Therefore, upon receiving 5,000 rupees in one account, I transferred online 1.20 lakh rupees to the bank account and the application showed a profit of 21,900 rupees. This increased my trust in the system, prompting me to register my wife on the PICICR application as well, and we initiated transferring money into their accounts as per their advice.
Rejection of Withdrawal Request
On April 25th, I was shown eligible for a profit of 18 crore rupees. However, when I attempted to withdraw this money from the PICICR application, my request was rejected. Upon inquiry with customer care, I was informed that to earn money, I would need to deposit 2.36 crore rupees, including 15 Taka as tax. Since I didn’t have the funds, I conversed with Rajiv Ambani, who assured me of giving 40 lakh rupees, and I provided different bank account numbers for depositing the remaining amount for investing in stocks.
Concerns Raised Regarding Depositing 60 Lakhs
During this period, I (1) received stock market tips on WhatsApp from a contact named Jay Sahani. I had deposited 44.25 lakhs in various accounts, showing a profit of 1.12 crore rupees on April 24th. However, my withdrawal request for this profit was rejected, raising doubts in my mind. When I spoke to Aria Sharma, I was asked to deposit another 60 lakhs in an account, which made me suspicious, and I refrained from depositing the money.
Complaint Filed with Cyber Crime
Subsequently, I was constantly urged to deposit more money from various WhatsApp groups. However, feeling doubtful, I did not deposit any more money and instead lodged a complaint at the Vadodara Cyber Crime Police Station on number 1930. I haven’t received my profits back yet. The allure of profit had led me to register on the app. ICICI Securities and Goldman Sachs had transferred 99.75 lakhs online from my account, regaining my trust, as they returned 5 lakh rupees to me. However, they haven’t returned the remaining 94.75 lakhs, and now I am facing a scam. I have lodged a complaint against four unknown persons at the Vadodara Cyber Crime Police Station.
