Mumbai: A 63-year-old retired Air Commodore from the Indian Air Force, who is currently working with a private aviation company as a commercial pilot, became the latest victim of online share trading fraud in which he lost Rs 1.45 crore in 19 days while ‘share trading’. His profit, in a virtual account, was shown as Rs 8 crore. The crime took place between Jan 8 and 27 this year. The FIR was registered on March 3. The complainant told the West Region Cyber Crime Police in BKC that on Jan 8, he was added to a WhatsApp group, Point Break. When the complainant searched online, he found there was a company with the name Point Break LP. He stated that one Harry Singh was the group admin while one Arun was the customer service manager, and the duo was providing information in the group about the company in terms of investing in the stock market. “When I inquired about it myself, I found the investment tips they were giving to be correct,” the complainant stated in the FIR.
Later, Singh and Arun sent him a link and forced him to install the Point Break App on his mobile. Also, as they instructed him, he filled in the information and received the user ID and password. The complainant was told to buy shares through this app. However, he was provided with different bank account numbers by the accused to send money for buying shares. When he sent money, he could see his investment in the virtual account in the app. “Therefore I trusted them,” the complainant stated.
The complainant sent a total of Rs 1.45 crore in 16 transactions to nine different bank’s accounts located in Nabi Nagar in Bihar, Kanchrapara and Howrah in West Bengal, Bhanpura in Madhya Pradesh, Khowang in Assam, and Peenya in Bengaluru. The complainant could see his profit as Rs 8 crore in the app. However, when he tried to withdraw the amount, he couldn’t. He then contacted Singh and Arun, but they refused to return the amount, citing various reasons. He then requested them to return his principal investment amount, but they gave various reasons and refused to return the amount by giving further dates. Later, the WhatsApp group was suddenly closed. This is when the complainant realised it was an online fraud.
The complainant informed the police about the fraud on January 29, and an FIR was registered on March 3
Mumbai: A 63-year-old retired Air Commodore from the Indian Air Force, who is currently working with a private aviation company as a commercial pilot, became the latest victim of online share trading fraud in which he lost Rs 1.45 crore in 19 days while ‘share trading’. His profit, in a virtual account, was shown as Rs 8 crore. The crime took place between Jan 8 and 27 this year. The FIR was registered on March 3. The complainant told the West Region Cyber Crime Police in BKC that on Jan 8, he was added to a WhatsApp group, Point Break. When the complainant searched online, he found there was a company with the name Point Break LP. He stated that one Harry Singh was the group admin while one Arun was the customer service manager, and the duo was providing information in the group about the company in terms of investing in the stock market. “When I inquired about it myself, I found the investment tips they were giving to be correct,” the complainant stated in the FIR.
Later, Singh and Arun sent him a link and forced him to install the Point Break App on his mobile. Also, as they instructed him, he filled in the information and received the user ID and password. The complainant was told to buy shares through this app. However, he was provided with different bank account numbers by the accused to send money for buying shares. When he sent money, he could see his investment in the virtual account in the app. “Therefore I trusted them,” the complainant stated.
The complainant sent a total of Rs 1.45 crore in 16 transactions to nine different bank’s accounts located in Nabi Nagar in Bihar, Kanchrapara and Howrah in West Bengal, Bhanpura in Madhya Pradesh, Khowang in Assam, and Peenya in Bengaluru. The complainant could see his profit as Rs 8 crore in the app. However, when he tried to withdraw the amount, he couldn’t. He then contacted Singh and Arun, but they refused to return the amount, citing various reasons. He then requested them to return his principal investment amount, but they gave various reasons and refused to return the amount by giving further dates. Later, the WhatsApp group was suddenly closed. This is when the complainant realised it was an online fraud.
The complainant informed the police about the fraud on January 29, and an FIR was registered on March 3