83-year-old retirement lost Rs 1.19 crore of fake ipo scam

83-year-old retirement lost Rs 1.19 crore of fake ipo scam

An 83-year-old Retired Man of Dadar, Mumbai, falls victim to a sophisticated stock investment scam, which lost Rs 1.19 crore after financial limbs.

The incident began on March 10, if the Senior Citizen Clicked on an advertisement of investment in social media stock. Next he was added to a WhatsApp Group GROCK EXCHANGE GROG GROG OF G-5 ICICI STOCK, appeared to be handled by two individuals identified as Vinita Patodia and Ashwin Parekh. The group, with more than 90 members, often posted messages that boast at high returns from stock trades.

On April 2, Patodia privately sucks the victim, asks if he is interested in investing. After he agreed, he was sent to a registry link. Shortly thereafter, a man named Pranay had contacted him and, the narrative of the patodia, compelled him to invest in Rs 7.5 lakh as an initial value.

Within the following weeks – between May 2 and May 23 – the victim makes many shifts to different bank accounts, which believes he invests in IPOS. Scammers send fake documents and screenshots showing virtual standing virtual to get his confidence.

When he requested a payment, the tricks asked a 10% commission of believed profit. His suspicion grew up after his messages and call began to go unanswered. He then consulted with a friend, which confirms that it is a scam.


The victim submits a complaint by national Cybercrime Reporting the portal (1930), and the case since moved to the Cyber ​​Police (Central Division). A fir is registered under the relevant sections of Bharatiya NaiYa Sanhita and the Account Technology Act. Investigations continue.Also read: $ 2.4 trillion worth of gold! Indian household hoard is Pakistan’s economy in Pakistan(Disclaim: Recommendations, suggestions, views, and opinions given to experts themselves. It does not represent views of economic times)

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