Noida: Two men were cheated of a total of nearly Rs 47 lakh in two incidents of share market trading scams. In both cases, the conmen approached them through social media.The first complaint was filed by 39-year-old Vaibhav Garg, a resident of Greater Noida West, who said he lost Rs 20 lakh. He alleged he was added to a WhatsApp group and started receiving messages related to share market investments. He added that every day at 7.30pm, a man would conduct classes on investment on a video call and inform group members about its benefits. “Participants would share screenshots of their profits every day. Soon after, the fraudsters asked me to invest money and promised me 300% in interest,” he told police.He said the accused asked him to open a demat account, after which, between Sept 16 and Oct 6, he transferred Rs 20 lakh in 10 transactions. But when he attempted to withdraw the profit, the conmen asked him to transfer more money towards various charges, warning that otherwise, he would be transferred to the default list.It was then that he understood he had been scammed and he filed a complaint on National Cyber Crime Reporting Portal.In Sector 20, a 72-year-old man was cheated similarly of Rs 27.5 lakh.Police said the victim was also asked to start investing through an application provided by the fraudsters. Later, when he attempted to withdraw his profits, he was being pressurised to pay more money.SHO of Cybercrime Branch police station Vijay Rana said that on the basis of the complaints, FIRs were registered in both cases under sections 318(4) (cheating) and 319(2) (cheating by personation) of the BNS and the IT Act. Teams have been formed to investigate the case.
