BENGALURU: After getting lured by an enticing advertisement on Facebook, which promised high returns in stock market investment, a 64-year-old man lost Rs 13 lakh. The advertisement was purportedly promoting the Chief Investment Officer of ICICI Securities’ International Investors Division from a website in the name of Rajiv Ambani.
The victim contacted the alleged fraudster through WhatsApp. Subsequently, the fraudster directed him to join a WhatsApp group and download three mobile applications -- ICICI Securities, FEDICICI and MIXICICI.
On March 26, the victim invested Rs 5,000 in IPO shares and got high returns. Exploiting the victim’s trust and eagerness to enhance his investment portfolio, the fraudster cunningly convinced him to invest more funds into IPOs, emphasising the need for increased investments to yield substantial returns. Falling prey to this persuasion, the victim proceeded to transfer money from five different banks on various dates, ultimately culminating in a substantial financial loss of Rs 13.37 lakhs.
After getting cheated, the victim complained to the CEN police on Saturday. A similar incident was reported in the city earlier, where a doctor and businessman together lost Rs 69.40 lakh after investing in a fraudulent scheme. The duo too was conned by the same man, Rajiv Ambani, through the same three mobile apps.
The victim told TNIE that to give an impression that the company was genuine, the fraudsters deducted taxes on his earnings. “Apart from deducting taxes, when I attempted to withdraw my money, the fraudsters convinced me not to do so, and said they can keep on trading and investing in IPOs,” he said. The victim alleged that all three mobile applications through which he lost his money were available on PlayStore.