The victim was added to WhatsApp groups that promoted lucrative trading options, including Super Circuits, Block Trading, and IPOs. Encouraged by the apparent professionalism of the group, he began investing through a trading platform called HSSSPMA, accessed via a mobile-linked app. Over time, his virtual account showed a profit of ₹9.91 crore, leading him to attempt a withdrawal.
However, before he could access his funds, he was asked to pay an Economic Service Fee of 18% of the profit (₹1.45 crore). When he requested that the fee be deducted from his balance, his request was forwarded to a supposed finance department, but no action was taken. Desperate, he attempted withdrawals of ₹90 lakh and ₹9 crore, but the transactions were marked as "successful" or "pending" without any money being credited to his IndusInd Bank account.
Realizing he had been duped, the official lodged a complaint with the Maharashtra Cyber Police, who are now investigating the scam and working to trace the financial trails left by the fraudsters.
Cyber frauds like these highlight the growing risks of online financial scams. Always verify investment opportunities and avoid engaging with unverified sources on social media.
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