Man loses Rs 64 lakh after joining online classes, here is what happened

The victim, whose identity remains undisclosed, was reportedly induced to join a WhatsApp group titled “Stock Exchange” at the request of an unidentified party, as confirmed by local law enforcement authorities.

The intricate operation unfolded gradually, with the victim being enticed into the realm of stock investments with promises of lucrative returns on nominal capital outlay. Seduced by the allure of expedient wealth and misled by the deceptive guidance of the perpetrators, the victim succumbed to their fraudulent scheme. Over a period of time, the victim deposited significant sums, totalling Rs 64 lakh across various digital platforms and banking channels, following the directives of the scammers in pursuit of the purported investment opportunities.

The victim later realised that he was being cheated and that no money would be returned to him, The Hindu reported. Following this, he promptly lodged a formal complaint with local law enforcement agencies. In a commendable demonstration of swift action, authorities apprehended five individuals that were involved in this scam.

To minimize the risk of becoming a victim of online scams such as the one reported in Visalakshi Nagar, individuals should adopt several proactive measures.

First and foremost, it is crucial to remain vigilant and cautious when encountering unsolicited messages or invitations to join unfamiliar online groups or investment opportunities, particularly those promising substantial returns with minimal effort. Verifying the credibility of sources is essential before engaging in any financial transactions or investment schemes. This involves conducting thorough research and seeking recommendations from trusted sources while cross-referencing provided information.