Noida Businessman Defrauded of ₹9 Crore in Sophisticated Cyber Scam

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hAFUBAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAALwGsYoAAaRlbhAAAAAASUVORK5CYII= Noida Businessman Defrauded of ₹9 Crore in Sophisticated Cyber Scam

In a startling case of cyber fraud, a 41-year-old businessman from Noida, Uttar Pradesh, has been swindled out of over ₹9 crore. The elaborate scam involved a fake share market investment platform that promised lucrative returns, ultimately leading to a significant financial loss for the victim, Rajat Bothra, a resident of Sector 40.

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The deception began when Bothra joined a WhatsApp group on April 28, which claimed to offer profitable stock market tips. The group lured him with promises of high returns, prompting him to engage in what seemed like a lucrative investment opportunity.

Upon realizing the gravity of the situation, Bothra reported the fraud to the authorities, prompting the police to launch an in-depth investigation. A First Information Report (FIR) was registered, and the police have since managed to freeze ₹1.62 crore of the misappropriated funds. Additionally, a special team has been established to pursue and apprehend the perpetrators behind this sophisticated cybercrime.

Assistant Commissioner of Police for Cybercrime, Vivek Ranjan Rai, provided further insights into the scam. Bothra was persuaded to download a mobile application through a link shared within the WhatsApp group. The app was purported to facilitate the purchase of shares, with assurances of exceptionally high returns. Initially, Bothra invested small amounts, but by May 27, his total investment had ballooned to ₹9.09 crore. His suspicion was aroused when his trading account on the app was abruptly shut down, preventing him from accessing his funds.

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Detailed information included in the FIR, filed on May 31, revealed that Bothra made 13 separate transfers totaling ₹9.09 crore to the fraudulent app. His worst fears were confirmed when he attempted to withdraw his money, only to discover that the app did not allow withdrawals.

The FIR was officially lodged on Friday at the cybercrime police station in Sector 36, Noida, under various sections of the Indian Penal Code, including those related to impersonation and cheating, as well as relevant sections of the Information Technology Act.

The ongoing investigation has uncovered that the defrauded money was dispersed across multiple bank accounts in various locations, including Chennai, Assam, Bhubaneswar, Haryana, and Rajasthan. The special team formed is actively working to trace the cybercriminals and bring them to justice.

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This incident serves as a stark reminder of the growing sophistication of cyber fraud schemes and the importance of vigilance in the digital age. Authorities are urging citizens to exercise caution and verify the legitimacy of online investment opportunities, especially those that promise unusually high returns.

As the investigation progresses, it is hoped that the culprits will be swiftly apprehended, and justice will be served for Rajat Bothra and others who may have fallen victim to similar scams. The police are also focusing on enhancing cybersecurity measures and awareness to prevent such incidents in the future.

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