A businessman from Noida, Rajat Bothra, was allegedly scammed out of over Rs 9 crore by cyber criminals through a stock market trading group on WhatsApp. Despite efforts by market regulator Sebi to raise awareness about market frauds, such scams continue to thrive on social media.
According to the police, Rajat was added to the trading group in May and started investing small amounts based on the group’s information. By May 27, he had invested Rs 9.09 crore, but then his trading account was abruptly closed.
Rajat filed a complaint at the Cyber Crime police station, leading to Rs 1.62 crore of the scammed money being frozen. The investigation revealed that the money was transferred to bank accounts in various locations, including Chennai, Assam, Bhubaneswar, Haryana, and Rajasthan.
The police advised the public to be wary of online scams and to report suspicious activities using helpline number 1930, emergency number 112, or the cyber desk at local police stations.
Social media, particularly WhatsApp, is a hotspot for scams, including fake advertisements. Zerodha co-founder Nikhil Kamath recently warned users about these scams on social media, and the government has issued warnings about fraudulent ads using deep fake videos and images.
Stay vigilant and exercise caution online to avoid falling victim to such frauds.
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