Noida: A 37-year-old man in Noida was duped of ₹56 lakh in a share market trading fraud, police said on Sunday, adding that a case was registered at the Cybercrime Branch police station.
Police said the victim resides with his family in Sector 53.
In his complaint to the police on May 6, he stated, “On February 9, I was added to a WhatsApp group where information related to profits in the share market was being shared. Later, I was asked by the group administrator to invest in the share market through a mobile application provided by them.”
Police said the victim started investing with ₹50,000 and gradually went on to invest ₹56.93 lakh in 24 transactions till April 11.
In his FIR, he stated, “When I attempted to withdraw my money, I was asked to pay more, and they prevented me from doing so. After this, when I attempted to inquire, no satisfactory response was received.”
Police said just as the victim realised that he had fallen into a trap, he approached the police to file a complaint. “A case under sections related to cheating and cheating by personation of the Bharatiya Nyaya Sanhita was registered against the unidentified suspect at the Cybercrime Branch police station, and efforts are underway to trace the money trail,” said Vijay Rana, station house officer, Cybercrime Branch.
