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Senior citizen cheated of Rs 15 lakh in Bengaluru with promise of profit in stock trading | Bangalore News | #cybercrime | #infosec


The accused allegedly offered to provide the senior citizen 80 per cent of the profits earned through online stock trading with a demat account.

cyber crimeThe victim, Sridharan S, 67, has filed a complaint with the South CEN (Cybercrime, Economic offences and Narcotics) police station in Bengaluru about the alleged fraud. (Representational image)

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A senior citizen has filed a complaint of cheating and cyber fraud of Rs 15 lakh against unidentified people who allegedly approached him to open a demat account for trading in stocks after providing tips that initially provided small amounts of profit.

The victim, Sridharan S, 67, has filed a complaint with the South CEN (Cybercrime, Economic offences and Narcotics) police station in Bengaluru about the alleged fraud.

According to the complaint registered on Wednesday, the senior citizen was approached on his mobile phone on August 7 by an unknown person who identified himself as Rahul with the offer of opening a demat account in his name and the promise of quick profits by trading in the stock markets.

The suspect allegedly told the senior citizen that he would need to open the demat account only after he is convinced of making profits through trial trading done with the suspect’s help. The accused allegedly offered to provide the senior citizen 80 per cent of the profits earned through online stock trading with a demat account.

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After the initial tips worked well, the senior citizen sought to open a demat account but was told that this would take time and that until an account was opened in his name, the senior citizen could use the demat account of a brokerage called Deepak Capital Instruments.

Based on the advice of the unknown person, Sridharan contacted an individual whose number was provided and subsequently transferred an amount of Rs 15 lakh to four bank accounts indicated by the person referred by the suspect.

After realising that he had been cheated when there was no response from the brokerage after the money transfer, the senior citizen lodged a complaint with the national cyber crime helpline 1930 and also approached the Bengaluru South CEN police.

Click for more updates on Bengaluru News Today. Also get Latest News Updates from Mumbai, Chennai, Delhi, Pune and other parts of India at The Indian Express.

First published on: 31-08-2023 at 14:23 IST



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