Bengaluru Man Loses ₹5.95 Crore in Online Trading Scam
Bengaluru Man Tested Trading Platform Twice Before Investing, Still Lost Rs 5.95 Crore To Scam
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A 50-year-old man from northwest Bengaluru lost ₹5.95 crore in an online investment scam involving a fake trading platform. Despite initial profits and guidance from a supposed expert, he discovered the scheme was fraudulent after being unable to access his funds.
- 01The victim was introduced to online trading through friends and initially invested in a platform called ‘PU Prime’.
- 02He was convinced to invest after seeing fabricated profits on the trading dashboard, which falsely displayed significant gains.
- 03The victim transferred a total of ₹5.95 crore, influenced by the fraudulent platform's manipulative tactics.
- 04He opened a second account, which also showed fake profits, further convincing him of the platform's legitimacy.
- 05The cybercrime police have launched an investigation to identify the perpetrators and urge caution among potential investors.
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A 50-year-old man from northwest Bengaluru has reportedly lost ₹5.95 crore in a sophisticated online investment scam. Initially introduced to online trading by friends, he became interested in a platform called ‘PU Prime’. Seeking guidance, he connected with a woman named Shilpa Shivakumar, who persuaded him to invest through a fraudulent platform. The platform displayed fabricated profits, leading the victim to believe he was making significant gains. Encouraged by the apparent success, he opened a second account and transferred a total of ₹5.95 crore, including funds from his wife's accounts. The scam was uncovered when the victim realized he could not access his funds. He filed a complaint with the cybercrime police, who have since begun investigating the case and are advising potential investors to verify the authenticity of trading platforms and advisers.
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The case highlights the risks associated with online investments, particularly in fraudulent schemes that can lead to significant financial losses.
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