Elderly Retiree Duped of Rs. 68.77 Lakh in Noida Stock Market Fraud

A 67-year-old retired businessman from Noida Sector 128 was duped of Rs. 68.77 lakh by a cyber fraud involving stock market investments after being approached by an unidentified woman. The victim, who wished to remain anonymous, was convinced to invest in the share market through a stock trading group and made multiple transactions from July 22 to August 8, assuming his money would be doubled. The fraudsters provided a fake investment portfolio showing a profit of over Rs. 5 crore, but the victim was unable to withdraw any money, and the scammers threatened him over social media after he refused to pay additional charges.

Key Takeaways:

• The victim, a 67-year-old retired businessman, was duped of Rs. 68.77 lakh in a cyber fraud involving stock market investments.
• The scam was orchestrated by an unidentified woman who gained the victim's trust and convinced him to start investing in the share market.
• The victim made multiple transactions from July 22 to August 8, totaling Rs. 68.77 lakh, assuming his money would be doubled.
• The fraudsters provided a fake investment portfolio that showed a profit of over Rs. 5 crore, but the victim was unable to withdraw any money.
• The scammers threatened the victim over social media after he refused to pay additional charges of Rs. 1.06 crore.
• A case under Sections 318 (cheating) and 319 (cheating by personation) of the Bharatiya Nyaya Sanhita and the IT Act was registered.
• The victim's identity was not revealed in the police complaint.

Statistics:

• Rs. 68.77 lakh: The amount the victim was duped of in the cyber fraud.
• 7 transactions: The number of transactions the victim made from July 22 to August 8.
• Rs. 5 crore: The fake profit shown by the investment portfolio.
• Rs. 1.06 crore: The additional charges demanded by the scammers.
• August 18: The day the police case was reported.

Sources:

• HT Digital Content Services with permission from HT Noida & Ghaziabad.