Saturday, July 13, 2024
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City resident duped in stock market scam

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By Our Reporter

SHILLONG, June 15: A resident of Shillong has reportedly fallen victim to a fraud after being lured into a stock market investment scheme with promises of high returns.
The victim, in his complaint to the police, detailed how he was enticed by a Facebook advertisement to join a WhatsApp group managed by an individual named Deepak Yadav. Yadav convinced him to invest in the stock market, guaranteeing substantial returns within a month.
Following this advice, the victim invested a total of Rs 14.25 lakh and was initially pleased to see his investment reportedly grow to Rs 40.82 lakh. On May 16, 2024, seeking to verify the legitimacy of these profits, he successfully transferred Rs 4 lakh via OTC to his UCO Bank account.
However, when he attempted to transfer funds from his UCO Bank account to another account using his mobile banking application, he was informed that his account had been frozen.
Further investigation revealed that the account from which he had received the money was fraudulent, leading to the realisation that he had been duped.
The police are currently investigating the case.

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