Belagavi man loses ₹21.94 lakh in online investment fraud
A 60-year-old man from Hindawadi has suffered a loss of ₹21.94 lakh due to an online investment scam, according to the Cyber, Economics and Narcotics (CEN) police. The victim, Kishor, was lured by a YouTube advertisement on June 20 that promised high returns on stock market investments, featuring the name of Union Finance Minister Nirmala Sitharaman. Kishor registered through a link provided in the advertisement.
A person named Sandeep Sharma contacted Kishor and added him to a Telegram group. An individual called Priyansh Sharma allegedly collected ₹22,000 from Kishor via PhonePe. The accused allegedly tricked Kishor into investing more by promising higher returns, leading him to transfer money in instalments through a website. Despite the lack of any investment returns or promised gains, Kishor claims he did not receive any payment. The CEN police have registered a case and initiated an investigation into the matter.
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