Archive · 23 May 2025
Bengaluru Student Loses 3.7 Crore in Online Stock Market Scam
A student in Bengaluru was tricked into investing in a fake stock market scheme.
He saw an ad promising big profits and joined a WhatsApp group where people pretended to make money.
He started with small investments, which seemed to grow, so he borrowed money from friends and family and invested even more.
However, when he tried to withdraw his money, he was asked to pay more fees.
Eventually, the fraudsters vanished, and the student lost a lot of money.
A Bengaluru student lost Rs 3.7 crore in an online stock market scam.
The student was lured by a Facebook post promising high returns.
He was added to a WhatsApp group discussing stock trades and showing profits.
The victim initially received small returns, building his trust.
The fraudsters demanded more money before he could access his funds, then disappeared.
- Who
- A 19-year-old engineering student and fraudsters posing as investment firm representatives
- What
- A student lost Rs 3.7 crore in a stock market scam.
- When
- February - May 2024
- Where
- Bengaluru
- Why
- Victim was lured by promises of high returns.
- Amount Lost
- Rs 3.7 crore
- Type of Fraud
- Stock Market Scam
- Timeframe
- February - May 2024
- Location
- Bengaluru
- Victim's Age
- 19
