Shimla orchardist duped of Rs 36 lakh on pretext of quick returns on IPOs

An apple orchardist of Shimla has been duped of Rs 36 lakh by a scammer on the pretext of quick returns on online share trading and Initial Public Offerings (IPOs), the police said here today.

In the police complaint, the victim stated that he received a phone call from an unknown number and the caller introduced himself as a representative of a company named, ‘Indniv Pro’. He alleged that the scammer promised him exorbitant returns on his investments in IPOs within a short span of time.

Lured by the offer, the victim downloaded the app suggested by the scammer and started trading after depositing Rs 15,000. Later, he was lured into investing in an IPO and paid Rs 14 lakh in multiple installments.

The victim alleged that the scammer then demanded Rs 10 lakh as service charge. He again sought Rs 10 lakh, claiming a server error and told him that the previous Rs 10 lakh had been credited to his trading account. After some time, the scammer demanded around 30 per cent as processing charge, making the victim suspicious.

He filed a complaint with the police, which registered a case and initiated an investigation. He alleged that he had paid around Rs 36 lakh to the scammer. The police have advised people to not fall for such offers and always be cautious while investing money and trade only through reliable platforms.

The police have also advised people to never download any suspicious app, not to open suspicious links sent through text messages and immediately contact on the toll-free cyber crime helpline number 1930 in case of a cyber fraud.