Mumbai Man Loses ₹11 Crore in Stock Market Fraud: Lured by Fake Investment Promises

• A 68-year-old Mumbai resident was defrauded of ₹11 crore after being lured into a fake stock market investment scheme.
• The victim clicked on an enticing online advertisement promising high returns and was added to a WhatsApp group.
• The WhatsApp group included fake analysts and customers who discussed high earnings, IPOs, and preferential shares to build trust.
• The man transferred approximately ₹11 crore to over 12 accounts within 20 days, believing his investment was safe.
• He realized the fraud when he was asked for an additional ₹8 crore to withdraw his supposed ₹18 crore profit, which was fake.