Raigad, January 20: Every day, a new type of scam comes to light in which people are duped by fraudsters under various pretexts. From "Emergency Call" scam to "Parcel" scam and more, fraudsters are cheating people in numerous ways. In a latest case, a senior citizen from Maharashtra's Raigad was allegedly duped of INR 7 crore in shares investment fraud. The alleged "Shares Investment Fraud" began when the 69-year-old retired merchant navy employee fell prey to fraudster.

The victim was duped of INR 7.16 crore in shares investment fraud by the scamster, reports FPJ. The scam began when the victim, a resident of Alibaug, Raigad, was added to a WhatsApp group on November 25, in which information and tips on investing in shares were being discussed. After being added, the victim checked details about the administrator of the said group. Mumbai College Admission Scam: 2 Clerks Tamper With Admission Portal, Forge Mark Sheets and Other Documents To Secure Admissions for 50 Students in Somaiya College; Arrested.

In his complaint, the victim said that the WhatsApp group's administrator was a person who was known to him. Hence, he believed it to be a genuine WhatsApp group. On December 10, the scammer shared a link with the complainant and asked him to download a trading app and then proceed to create a login ID and password. Following the so-called administrator's order, the victim deposited 7.16 crore in different beneficiary bank accounts provided by the fraudster.

The eight online transactions took place between December 10 and December 17. Post this, the complainant called on the other number of the person whom he believed to be the administrator of the group. However, he was shocked to learn that the said person had not created any WhatsApp group. The victim also found that the said person had not advised anyone to invest in shares through him. What Is ‘Emergency Call’ Scam? Zerodha CEO Nithin Kamath Reveals How This New Fraud Works (Watch Video).

Realising he was cheated, the victim approached the cyber crime police and registered a case. Acting on his complaint, the police lodged a case under various sections of Bharatiya Nyaya Sanhita and relevant sections of the Information Technology Act.

(The above story first appeared on LatestLY on Jan 20, 2025 09:45 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).