Lured by quick profits, Bengaluru man loses Rs 1.1 crore to stock-trading scammers
Lured by promises of hefty returns from stock trading through a WhatsApp group, a 51-year-old private firm employee lost over Rs 1.1 crore after investing in a fraudulent trading application called ISL MAX. The fraudsters displayed fake profits to gain his confidence, persuaded him to transfer money to multiple bank accounts and repeatedly demanded more deposits, but he was unable to withdraw his funds.
Lured by promises of hefty returns from stock trading through a WhatsApp group, a 51-year-old private firm employee lost over Rs 1.1 crore after investing in a fraudulent trading application called ISL MAX. The fraudsters displayed fake profits to gain his confidence, persuaded him to transfer money to multiple bank accounts and repeatedly demanded more deposits, but he was unable to withdraw his funds.
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