Panchkula, September 5: A 44-year-old resident of Industrial Area, Phase 2, lost ₹8 lakh in an online trading scam after falling prey to fraudulent investment apps, police said.
The victim lodged a complaint on the cyber portal on July 21, revealing that he had been lured by a trading advertisement on Facebook on March 7. Clicking the ad added him to a WhatsApp group named “114 State Street Global Equity Investment Elite.” A few days later, on March 18, he joined another group, “9UpmarketWizards,” through a similar ad.
“Both groups directed him to apps where he was instructed to deposit money for trading,” said a police official. Acting on the instructions, the victim transferred ₹8 lakh to the two apps on different dates.
Trouble surfaced on March 28 when he attempted to withdraw his funds but found his account frozen. The next day, members of the “Upstock” group asked him to deposit more money. “It was only then that he realised he had been defrauded,” the official added.
The cybercrime branch has registered a case under sections 316(2), 318(4), and 61 of the BNS, and an investigation is underway. Authorities have warned citizens to remain cautious of online investment schemes and verify the authenticity of trading platforms before transferring funds.
