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Scammers Drain $2.2M from Chartered Accountant
13 Jul
Summary
- A chartered accountant lost over $2.2 million in a cryptocurrency scam.
- Fraudsters befriended the victim on social media before leading him to a fake platform.
- The scam follows a recurring pattern seen across multiple Indian states.
A prominent chartered accountant has fallen victim to a massive online investment scam, losing ₹21.06 crore, equivalent to about $2.2 million. The fraud began with social media contact, leading the 70-year-old victim to a fraudulent cryptocurrency trading platform. Scammers initially showed fabricated gains to build his confidence before disappearing with his substantial investment. This case is considered one of the largest online investment frauds in the Madhya Pradesh state.
The Madhya Pradesh State Cyber Cell is actively investigating the anonymous suspects. Authorities are tracing multiple bank accounts, phone numbers, and the fake trading portal's URL to apprehend the perpetrators. This modus operandi is not isolated, as evidenced by a recent arrest in Surat, Gujarat. A software engineer was detained for allegedly facilitating fraud by renting out his bank account, which had previously appeared in complaints from other states.
These incidents underscore a prevalent scam pattern targeting investors with promises of high returns on cryptocurrency and stock trading. Law enforcement agencies are urging the public to exercise extreme caution, verify unsolicited investment offers, and avoid engaging with unfamiliar online groups. Reporting suspected fraud promptly through official channels is crucial to combating these widespread financial crimes.
