IIM AHMEDABAD employee is cheating on Rs 50 Lakh Bogus SM IPO Pitch by WhatsApp Trading Scam

A Manager at the Indian Institute of Management (Do), Ahmedabad, victims of a detailed online trading scam, losing Rs 50 lakh after completing a bogus IPO Investment method by a WhatsApp group highlights stock stock tips. “

According to Indian times, the 49-year-old victim, who lives in Chandkhedheda, a complaint with Cybercrime Police on Monday refrained and his telephone trading number has been cut from the tricks of tricks.

Off by Facebook, hung on fake profits
The incident began on February 19, when the complainant was clicked on a Whispspp group called “E-28 Request Circle Circle” while browsing Facebook. Group managers start offering investment tips “and directed him to download a mobile application named” AskicPro. “He found that a little investment was convinced. On March 19, he deposited Rs 25,000 to buy parts” Clara Industries Ltd. The next day, his in-app purse Rses.

On March 27, his wallet balance grows at Rs 5 Lakh, with the app showing steady “profit” and the tricks encourage him to participate in “OTC trading.” This pattern of fake profits reflects the victim’s trust cement on the platform.
Fake letter to swe ipo, Rs 42 lakh fell
Eventually he convinced the group administrators to apply for an IPO in the name “Info Solution SM.” After applying the AnkicPro app, he received a relatively official letter of spending the IPO and asked to deposit high value, he declared a debt of Rs 20 lakh when he deposited Rs 20 lakh above. He agreed, and later paid the full amount of installments.

To try to withdraw funds, told him to make additional Rs 15 Lakh Deposit for “capital verification.” After negotiating, he deposited Rs 10 lakh, according to Indian times.

Blocked and disappeared
The final blow arrived when he tried to withdraw Rs 45 Lakh from his wallet in the app, to find the transaction failed. His account was easily blocked, he was taken from Whatsapp Group, and his mobile number was blacklists in the tricks.

The case is currently subject to Ahmedabad Cybercrime Police.

Read again | How are investors traded on the stock market scams by whatsapp? The Advisory Advisory Issued

(Disclaim: Recommendations, suggestions, views and opinions given to experts themselves. It does not represent views of economic times)