Man Scammed ₹93 Lakh in Market

A Kalyan resident has reported a significant financial loss after falling prey to an online investment scam that began with a Facebook advertisement. The individual, whose identity has not been disclosed, was lured into downloading a fraudulent trading application, which promised substantial returns on investments. Between April 26 and May 16, the victim transferred a total of 18 online transactions, amounting to a considerable sum, to various accounts as directed by the scammers. Initially, the trading app displayed increasing profits, which encouraged the victim to invest further. However, when he attempted to withdraw his earnings, the scammers demanded additional funds, threatening him if he refused to comply. In response to the threats and the loss of his money, the victim filed a police complaint detailing the events. Authorities have since registered a case under the Information Technology Act, aiming to investigate the fraudulent activities associated with the bogus trading app. This incident highlights the growing prevalence of online scams, particularly those targeting individuals through social media platforms. Law enforcement officials are urging the public to exercise caution when engaging in online investments and to report any suspicious activities immediately.