Sambalpur: Cyber Fraud Strikes Again; Youth Loses Rs.88 Lakhs in Fake Trading Scam, Sambalpur Police Investigates
Sambalpur: A man from Kuchinda lost ₹88 lakh due to cyber fraud in a fake trading scam. Despite repeated government awareness campaigns, people continue to fall victim to such scams in the hopes of making quick money. The cybercriminals used a deceptive trading platform to trick the victim into transferring large sums of money.
How the Scam Unfolded
On June 15, the victim received a link on the WhatsApp platform, supposedly to join a trading opportunity. The scammer posed as a senior executive of a company, convincing the victim to join their trading venture. Later, another individual, pretending to be the company’s director, started assigning daily tasks through a WhatsApp group. After gaining the victim’s trust, the fraudsters introduced him to a fake stock market investment scheme.
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Multiple Payments and False Promises
The victim was asked to deposit money into a variety of accounts. He transferred ₹87.9 lakh in 10 transactions, expecting to receive ₹20 crore. However, when he attempted to withdraw his profits on August 8, the scammers denied him access and demanded additional payments. He realized something was wrong and tried several times to withdraw his money but to no avail.
Filing a Complaint
After discovering that he had been duped, the victim filed a complaint with the Sambalpur Cyber Police Station. The police have opened an investigation and are working to find the perpetrators and recover the stolen funds.
