According to a report by The Times of India, the victim was first contacted via WhatsApp by individuals identifying themselves as Hanan Delvi and Ishita Paul. The fraudsters convinced him to install what they claimed was a Zerodha trading application through a shared web link.
Between April 30 and May 26, the victim made a series of bank transfers totalling Rs 72.55 lakh to various accounts provided by the scammers, believing he was investing in legitimate stock market trades.
False profits and tax trap
To build trust, the fraudsters initially credited Rs 1.73 lakh to the victim’s account on May 14, claiming it was his trading profit. However, when the victim later attempted to withdraw Rs 15 lakh, he was told that his account had accumulated Rs 2.19 crore in profits, but to access it, he would have to pay Rs 43.93 lakh as a ‘tax payment’.Alarmed by the massive tax demand, the victim visited the official Zerodha office in Begumpet and was informed that both the app and the trading account were fake.
Complaint and legal action
The victim promptly reported the fraud through the 1930 cyber crime helpline and lodged a complaint with the Cyberabad cyber crime police.
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Following his complaint, authorities registered a case under multiple sections of the Bharatiya Nyaya Sanhita, including 318(4) (cheating and dishonestly inducing delivery of property), 319(2) (cheating by personation), 336(3) (forgery for purpose of cheating), 338 (forgery of valuable security, will, etc.), 340(2) (using as genuine a forged document or electronic record), read with 3(5) (common intention), along with section 66-D of the Information Technology Act, The Times of India reported.Investigations are ongoing.Also read | Rs 43,000 crore selloff by promoters! Insider exits flash warning sign for Nifty bulls
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