Udupi: In a case of online fraud, Baptist Maurice Lobo, a resident of Udupi, lost ₹23.4 lakh after being duped by scammers running a fake trading group on WhatsApp named Aarayaa HSS. The group promised tips for making significant profits in online trading, only to deny Lobo access to his investments and earnings.
Lobo revealed in his complaint that he was added to the WhatsApp group, where the admins introduced themselves as trading experts. Other members, likely fake profiles, claimed to have earned substantial profits. Convinced by their claims, Lobo transferred ₹21.4 lakh from his and his mother’s bank accounts to multiple accounts shared by the scammers between December 2024 and January 2025. When Lobo tried to withdraw his profits, the scammers cut off all communication, leaving him financially devastated. A case was filed at the CEN Crime Police Station.
How Online Trading Scams Work
Scammers often create WhatsApp groups with legitimate-sounding names, posing as investment experts. They convince victims to download malicious apps and show fake profits on small initial investments. Once larger sums are invested, they block access to the funds, citing additional charges or simply cutting off communication.
Tips to Stay Safe
- Avoid Guarantees: Be cautious of claims of guaranteed high returns. Genuine investments carry risks.
- Verify Sources: Avoid downloading apps or sharing financial details with unknown individuals or groups.
- Report Suspicious Groups: Block and report fraudulent groups immediately.
Stay vigilant to protect yourself from online trading scams.
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