Ludhiana: Businessman duped of Rs 22.18 lakh in cyber fraud

Ludhiana: A Ludhiana businessman was allegedly duped of Rs 22.18 lakh by a fraudster who promised high returns on investments. The complainant saw an advertisement on a social networking site and joined a WhatsApp group, where the suspect promised high returns on investments in the stock market. The fraudster convinced the victim Baljit Singh to transfer Rs 22.18 lakh through various means. He later realised that he had been cheated and lodged a complaint at the nearest police station.

“On August 14, 2024, I saw an advertisement on Facebook, promising high returns on investments in the stock market. As soon as I clicked on the link, I was asked to join a WhatsApp group, ‘IEF Grow Together-99’. When I joined the group, I started receiving messages about high returns in stock market investment schemes. Later, the group admin sent me a link and asked to download the IEF app. Later, I was told that if I invest in the stock market through the app, I will get huge returns. The complainant said, “After this I deposited Rs 22.18 lakh in various bank accounts mentioned by the fraudster. Later I realised that the cyber criminals had duped me. After this I lodged a complaint with the police in November last year and an FIR was registered in this case on Friday.”