Kochi resident loses ₹2.14 crore in online share trading scam
Kochi resident loses ₹2.14 crore in online share trading scam
A 62-year-old Edappally resident fell for an online share trading scam, transferring ₹2.14 crore after being lured by Facebook-promised high returns.
A 62-year-old Edappally resident in Kochi fell prey to an online share trading scam, prompting the Kochi City cyber police to register a case.
According to investigators, the scammers contacted him after he clicked a link he came across on Facebook and lured him with promises of unusually high returns on investment.
Believing the pitch, the man transferred ₹2.14 crore from four different bank accounts between October 30 and December 3.
Things took a turn when the promised returns did not materialize and the scammers blocked him on his phone, cutting off contact.
Realizing he had been duped, he filed a formal complaint with the police.
Cases like this underscore a growing challenge of cyber-enabled investment fraud, especially schemes routed through social media and instant messaging apps.
Authorities advise people to verify the legitimacy of investment offers, avoid sharing personal bank details, and report suspicious links immediately to cybercrime cells.
