Bengaluru Techie Loses ₹1.3 Crore in Online Trading Scam via Telegram Group

Bengaluru Techie Loses ₹1.3 Crore: A Bengaluru techie lost over ₹1.4 crore to online stock market fraudsters who used the name of a well known brokerage platform. Promises of high returns lured him after attending online training sessions on stock market investments.

According to The Times of India report, the scam started when he was introduced to a Telegram group managed by a fraudster who posed as a trading leader named Surendra Kumar Dubey. The group had 60 members and seemed legit, with members sharing screenshots of their supposed profits. Many of these members were later found to be imposters working for the fraudsters.

He followed their advice and opened a Demat account through the link shared in the group and invested ₹10,000. It doubled in a week.

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Encouraged by the early returns, he increased his investment, eventually accumulating a profit of ₹1.4 crore.

To test the platform's credibility, he attempted to withdraw ₹85,036 and successfully received the amount. However, when he later tried to withdraw ₹20 lakh, his account was blocked. Shortly after, the fraudsters deleted the Telegram group and became untraceable.

A case has been registered under the Information Technology Act and Bharatiya Nyaya Sanhita Section 318 (cheating). Police have launched an investigation to trace the perpetrators.

Authorities have urged citizens to exercise caution while investing online and to verify the authenticity of platforms before committing funds.

A case has been registered under the Information Technology Act and Section 318 (cheating) of the Indian Penal Code. The police have initiated an investigation to trace the perpetrators. Authorities are urging people to exercise caution when investing online and to verify the authenticity of platforms before making any financial commitments.

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