Trading Fraud: In the greed of becoming rich quickly, a Mumbai man got cheated of Rs 3.7 crore, do not make this mistake

Comparing India to many other countries, there are far fewer people investing in the stock market, though this is starting to change as more online investment options become available. Many apps are available to help people invest in the stock market, but many people are also losing a lot of money because they are greedy and want to make more money quickly. In India, scams involving the stock market or trading are also common. In the most recent instance, a chemical engineer in Mumbai was conned out of Rs 3.7 crore through a trading scam.

This whole matter is related to social media. On February 17, 2024, a 43-year-old chemical engineer from the Vashi area, working in a private company, saw an advertisement on social media that claimed to give good profits from the stock market. After seeing the advertisement the engineer contacted him on the number given. After that WhatsApp chat started between the thugs and the engineer.

After this, the engineer was included in many social media groups. Meanwhile, the engineer talked to a person who was said to be a senior security officer in a big bank. The engineer invested Rs 3.7 crore in about a week. Later the engineer was told that his investment in shares and IPO had increased to Rs 22 to 23 crore.