🔹The Scam Began : Sharath, a 60-year-old retired oil firm staffer, received a WhatsApp message promising substantial investment returns. The scammers claimed he could earn returns of 100-300% on investments within a short timeframe.
🔹Building Trust : The scammers posed as ICICI Securities employees, using fake profiles like "Vinita Patodia" and "Asvin Parekh". They added Sharath to a WhatsApp group with 143 members, where members shared screenshots of investments and profits.
🔹Fake Trading Platforms : Sharath was convinced to use fake trading apps and websites, including (link unavailable), (link unavailable), (link unavailable), (link unavailable), and (link unavailable) These platforms displayed growing profits after each transaction and initially allowed small withdrawals to build trust.
🔹The Loss : Sharath transferred funds in 19 transactions, totaling over Rs 1 crore. When he attempted to withdraw a significant amount, the scammers demanded additional payments for "income tax" and "processing charges". Sharath refused, and the scammers blocked all communication.
🔹Reporting the Incident : Sharath lodged a complaint with the East CEN Crime police, who registered the case and are working to freeze recoverable funds.
