79-year-old duped of 2.5 cr in share trading app scam

Kolkata: A 79-year-old resident of Salt Lake Sector I was allegedly duped of Rs 2.5 crore by cyber fraudsters who lured him with promises of high returns through a fake share trading application promoted on Facebook.The victim lodged a complaint with the Bidhannagar Cyber Crime Police Station, stating that he came across an investment-related advertisement on Facebook on Dec 19 last year and ended up downloading a mobile application through a link provided in the post.
According to the complaint, he soon began receiving WhatsApp messages from a mobile number, where the sender introduced herself as a "Relationship Manager". He was subsequently added to a WhatsApp VIP group, which had two other administrators.Police said the victim was persuaded through group messages and personal chats to invest in institutional trading."Initially, he invested Rs 3 lakh and was shown what appeared to be instant profits on the platform, which built his confidence. Encouraged by the displayed returns, he continued transferring more funds over time. The total amount invested reached Rs 2.5cr," a senior officer of Bidhannagar city police said.Investigators said the app interface allegedly showed inflated profits, creating the impression that the investments were yielding substantial gains. However, when the elderly man attempted to withdraw the amount after seeing large profits reflected on the platform, the withdrawal option failed and no money was credited back to his account.Realising he was cheated, he lodged a complaint and also registered the incident on the National Cyber Crime Reporting Portal (NCCRP).Cops said they initiated a probe and are tracking digital transaction trails and analysing electronic evidence to identify the individuals behind the fraud and the bank accounts used to siphon off the funds.