Published On: Thu, Jan 2nd, 2025

Retired engineer loses Rs 2cr in online share trading scam – Times of India


Retired engineer loses Rs 2cr in online share trading scam

Navi Mumbai: A 76-year-old retired engineer residing in Vashi was duped of Rs 2.03 crore in an online scam by cyber crooks offering high returns for online investment in share market trading.
As per the complainant, in Aug last year, the scamsters added him to a WhatsApp group ‘m.Stock 582 value investment portfolio’, where there were six group admins, apart from ‘manager’ Kruti and ‘guide’ Nimit, who told him to invest in share market trading and made him transfer money to a bank account. They made him download a mobile app ‘mstockmax’, where his registered account virtually showed profit on his invested amount gradually between Aug and Nov.
However, when he was unable to withdraw his profit and questioned the group admin, he did not receive any response. Hence, he realised that he was cheated and lodged an online complaint on the National Cyber Crime Reporting Portal (NCCRP). Subsequently, an FIR of cheating and under the IT Act was registered at Navi Mumbai cyber police station on Dec 31.

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