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Man Loses Rs 30.4 Lakh in Online Investment Scam

Scam

In a distressing incident, Laxmi Narayana fell victim to an online scam, resulting in a loss of Rs 30.4 lakh. Narayana detailed his ordeal in a complaint filed with the authorities.

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Facebook Ad Leads to Investment Group

Narayana explained that his journey into the scam began when he encountered an advertisement on Facebook. Intrigued, he joined the Tata Trading Club WhatsApp group on March 27. Subsequently, he received investment advice from the group admin regarding the share market.

False Promises of Profitable Investments

The admin, making enticing promises, advocated for investments in Initial Public Offerings (IPOs) and block trading, assuring substantial profits.

Installation of Suspicious App

Convinced by these claims, Narayana installed the Bulk Angel Pro app. From April 24 to May 15, he transferred Rs 30.4 lakh from his HDFC bank account to various accounts linked to the accused.

Legal Action Taken

The unfortunate incident prompted Narayana to file a case at the CEN police station, seeking justice for the fraudulent activity he endured.

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