Panchkula man loses Rs 62.30L in online fraud

Tribune News Service

Panchkula, April 20

A 54-year-old resident of Sector 8 was duped of Rs 62.30 lakh in a case of cyber fraud. The man who runs a business at Mani Majra said he had received a link on his mobile phone, adding that when he clicked it, an application was downloaded on his phone.

The victim, Rakesh Bhardwaj, said he was added to an online portal where tips to invest in the share market were issued by the group admins. Bhardwaj said he was informed that the company carried out foreign investments, adding that he was offered various initial public offers (IPOs). He was also told that he could pay for his purchases only after they were allocated to him.

The man made a few transactions and purchased shares, which he claimed were worth Rs 46.20 lakh. He said he was able to withdraw Rs 50,000 from the application, which instilled trust in him for the application.

Bhardwaj said he went on to invest Rs 62.30 lakh in different accounts as directed by the group admins; however, instead of sending him the money, he was sent an agreement form and assured 300 per cent profits upon investments in a new IPO, which he declined. The man was then removed from the group.

A case under Sections 120-B (party to a criminal conspiracy), 406 (criminal breach of trust) and 420 (cheating and dishonestly inducing delivery of property) of the IPC has been registered at the cybercrime police station.

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