COIMBATORE: A 40-year-old man in Coimbatore district lost Rs 11.10 lakh after being lured into a fraudulent stock trading scheme through social media and messaging apps.
Believing their promises of high returns, he transferred a total of Rs 11.10 lakh in two transactions to an ICICI Bank account specified by the fraudsters.
C Krishna Prasath of R R Pudupalayam near Narasimhanaickenpalayam clicked on an Instagram advertisement that promised lucrative returns on block trading and IPO share investments, according to police sources. Following this, cyber fraudsters contacted him via WhatsApp and persuaded him to download a mobile application named ‘HB Ultra’ under the pretext of completing KYC verification and starting investments. However, after receiving the money, the cybercriminals failed to deliver the promised profits and refused to refund the principal amount invested. You Can Also Check: Gold Rate in Chennai | Silver Rate in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai | Chennai AQI | Weather in Chennai | Petrol Price in Chennai | Diesel Price in Chennai | CNG Price in Chennai | LPG Price in Chennai