New Delhi: A man from east Delhi was allegedly duped of Rs20 lakh by fraudsters posing as stock market advisors on an online platform.The complainant told police that he came across an online advertisement offering “free advisory services” for stock market trading.
Upon clicking the ad, he was redirected to WhatsApp, where he was added to a group providing trading tips and investment suggestions.
Initially, the group shared stock recommendations that appeared genuine.Later, they introduced a “Primary Market Trading Account” and asked him to download a mobile application via a link they provided.He was instructed to register on the application to start trading and asked to deposit Rs10,000 to activate his account, using bank details provided by the fraudsters.
He followed their instructions and began trading based on their recommendations, with the app initially showing consistent profits.“Encouraged by this, I deposited additional funds over the next two days and continued trading. The app also allowed me to withdraw a small amount initially, which helped build my trust. Later, they encouraged me to apply for IPOs through the same application. I applied for one or two IPOs and was shown profits,” the complainant said.
However, when he tried to withdraw his earnings, the application denied him access, citing a “credit score” issue. Despite following the scammers’ directions repeatedly, he was blocked from withdrawing funds, leading him to realise that he had been defrauded. A case has since been registered.
