Two Noida Residents Defrauded of Rs 1.40 Crore in Stock Market Scam, Police Investigating

In a shocking case of cyber fraud, two residents of Noida were swindled out of a total of Rs 1.40 crore by scammers promising high returns on stock market investments, according to police reports on Monday.

Additional Deputy Commissioner of Police (Cyber Crime) Preeti Yadav stated that the victims, a man and a woman, had filed separate complaints detailing how they were duped by the cyber criminals.

One of the victims, identified as Trishala, a resident of Golf Avenue Society in Sector 75, reported that she was added to a WhatsApp group named 'BlackRock Stock Club' several months ago. According to her complaint, a woman in the group provided her with information about stock market investments and convinced her to download a trading app on her phone.

Initially, Trishala received some returns on her investments, which built her trust in the system. Gaining confidence, she decided to invest a substantial amount of Rs 1 crore. However, when she attempted to withdraw her money, the group administrators allegedly blocked her and removed her from the WhatsApp group, leaving her unable to access her funds.

Following her complaint, the police have registered a case and are investigating the incident.

In a similar case, Rohit Chawla, a resident of Sector 16, filed a complaint at the cybercrime police station, alleging that he had been defrauded of Rs 40.70 lakh in another investment scam.

Both cases have prompted the police to initiate investigations, and efforts are underway to trace the perpetrators involved in these online scams.

ADCP Preeti Yadav urged residents to be cautious while investing online and to avoid engaging with unverified platforms or groups that promise unrealistically high returns.