Shown ‘profits’ of Rs 31 crore, Mumbai businessman loses Rs 7.3 crore to share market fraud
Tuesday, 27 May 2025
A Mumbai businessman, 63, fell victim to a stock market fraud, losing ₹7.3 crore after being promised 10% monthly returns. Lured through a WhatsApp group posing as investment advisors, he deposited funds via a fraudulent app. The victim was shown inflated profits of ₹31 crore, but suspicion arose when a ₹3.6 crore withdrawal fee was demanded.
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