Narun, the victim (46-year-old), was added to an unknown WhatsApp group in the second week of April.
The group was named ‘J7 Bajaj Finserv Wealth Institute’.
Scammers convinced Narun that he could make big money through online stock trading.
Online scams are getting more common, and even smart individuals are falling for them. Many of us receive messages or get added to groups claiming we can make money fast. But these promises often lead to serious losses. One such case has come to light from Bengaluru, where a man lost Rs 1.7 crore after joining a WhatsApp group that promised high returns on investment. Read on to know how it all happened.
Narun, the victim (46-year-old), was added to an unknown WhatsApp group in the second week of April. The group was named ‘J7 Bajaj Finserv Wealth Institute’, and two people — who claimed to be Ishit Kapoor and Puraa Jnanreri — contacted him.
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They convinced Narun that he could make big money through online stock trading. They even shared a link to download a mobile app called Bajaj BSFL-Max, reports TOI. Trusting them, Narun made his first investment of Rs 10,000 on April 16. Soon after, Rs 1,000 was credited to his account as a profit, which made him believe the scheme was genuine.
Encouraged by this small payout, Narun began investing more and more money over the next few weeks. Between April 16 and May 26, he transferred a total of Rs 1.7 crore to the fraudsters. But the so-called profits soon stopped. When he asked about the sudden pause in returns, the scammers told him he needed to invest even more to receive payouts. When he refused and asked for his money back, they blocked his number.
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How to avoid falling for such scams
- Don’t trust random WhatsApp or Telegram groups offering investment advice or financial tips.
- Never download apps from unknown links or sources shared by strangers.
- Avoid sending money based on verbal or written promises of quick profits.
- Always verify the legitimacy of financial services through official websites or trusted sources.
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Ayushi Jain
Tech news writer by day, BGMI player by night. Combining my passion for tech and gaming to bring you the latest in both worlds. View Full Profile
