{"id":"f-ebdaa7ae0c-b977c506-c239-52bb-8ac0-f6ee8f3a77d3","title":"Thane Businessman Loses ₹1 Crore In Instagram-Based Share Investment Scam","description":"","timestamp":1768471425,"category":"business","headline":"Thane Businessman Loses ₹1 Crore In Instagram-Based Share Investment Scam","modifiedHeadline":"Thane Man Scammed Out of ₹1 Crore on Instagram","subCategories":["scid_47bc7b76"],"region":"IN","bundleMetaData":{"bundleId":"7b48871c-c993-4956-b43d-6f46f8e1b036","bundleTitle":"Today In India","cardData":null},"iabCategoryId":"74","fcSummary":"A thane businessman lost ₹1 crore in a share investment scam after clicking on an instagram ad promising high returns. He invested via a fraudulent link and couldn't withdraw his earnings. Separately, a navy sailor lost ₹90,811 after downloading a fake credit card app.","summary":"Thane businessman duped of ₹1 Crore in Instagram share investment scam. Beware of social media scams promising high returns!","ctaUrl":"https://trends.glance.com/newz/India_News/IN/en/freepressjournal/f-ebdaa7ae0c-b977c506-c239-52bb-8ac0-f6ee8f3a77d3","sourceUrl":"https://www.freepressjournal.in/mumbai/thane-businessman-loses-1-crore-in-instagram-based-share-investment-scam/glance","bannerImage":"https://g-mob.glance-cdn.com/public/fc/image/DnBx_wyM3zX0.webp","content":"

Mumbai: A 43-year-old businessman from Thane lost Rs 1 crore in share investment fraud. According to the police, the complainant came across an advertisement on Instagram, which used the name of a known

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online stock-broking company and promised huge returns on investments.

He contacted the number mentioned in the ad, and the scammer shared a fraudulent link on WhatsApp and asked him to register and create an account on the trading platform. Thereafter, he began trading through that account. Initially, the complainant was able to withdraw and transfer money from his trading platform to his bank account, which prompted him to invest more.

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In over two dozen transactions, he transferred Rs 1 crore to different beneficiary accounts shared by the scammers. On checking his trading account, the complainant learnt that his earnings had reached Rs 19 crore. However, when he tried to withdraw the money, his requests were repeatedly denied. He then confronted the scammers who asked him to pay Rs 20 lakh to withdraw the money.

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He then visited the office of the stock-broking company and realised he had been scammed. Meanwhile, a 27-year-old Indian Navy sailor posted at INS Agrani, Colaba, fell victim to a cyber fraud after downloading a fake “IndusInd Credit Card APK” sent to him via WhatsApp. The victim, Ram Naresh Sher Singh, received the file on January 10 around 5 pm from an unknown number.

He assumed the application was genuine and downloaded it. Minutes later, he received SMS alerts that Rs 80,999 had been spent at Reliance Retail using his first credit card and another Rs 9,812 was transacted via One Mobikwik System from his second credit card. A total of Rs90,811 was siphoned off. The Colaba Police have registered an FIR against unknown persons for gaining unauthorised control of the victim’s mobile phone.

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Thane Businessman Loses ₹1 Crore In Instagram-Based Share Investment Scam

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