Pune: With many people now aware of telegram frauds, the cybercriminals have now shifted their focus from telegram scams to a new fraudulent scheme, duping unsuspecting victims through a bogus stock market investment ploy.
In this case, a 37-year-old doctor residing in Thergaon recently filed a complaint (G. Reg. No. 99/24) at Wakad Police Station, shedding light on the elaborate swindle orchestrated by individuals identified as Ashish Shah, Rahul Singh, and Kshitija Fariha, along with other bank account holders.
According to the police report, the victim, a practitioner with a clinic in Pimple Gurav, expressed interest in the stock market and was drawn into the scam via an Instagram page related to stock trading. Intrigued by it, he joined a WhatsApp group named “101 Stock Frontline,” administered by Ashish Shah. The group purportedly provided insights into stock trading, including information on buying and selling stocks as well as IPO allotment details.
The victim, trusting the group’s guidance, was persuaded by Kshitija Fariha to invest in high-profit stocks, promising substantial returns. Initially investing Rs 50,000 into the provided IndusInd Bank account, the victim was later coerced into sending an additional Rs 50,000. As the stakes escalated, the doctor invested a significant sum, eventually totalling Rs 5 lakh, and even participated in an IPO of Motisan Jewellers.
Upon realising a substantial profit of Rs 19 lakh in the application provided by the fraudsters, the victim attempted to withdraw his earnings. However, he was met with an unexpected demand from Rahul Singh, one of the scammers, who insisted on a 30 percent payment before allowing the withdrawal. Despite persistent attempts to contact the fraudsters and retrieve his funds, the doctor was met with evasion and silence.
The Wakad Police have registered a case against the alleged fraudsters, including Ashish Shah, Rahul Singh, and Kshitija Fariha, along with the account holder linked to the scam. Authorities are cautioning the public against falling victim to online advertisements posing as legitimate stock market opportunities, urging individuals to exercise diligence and scepticism in financial transactions facilitated through social media platforms.
