A former LU professor was defrauded of Rs 7.7 crore by online scammers.

Lucknow: Cybercriminals impersonating investment advisors defrauded a retired professor from Lucknow University of Rs 7.7 crore. After being added to several WhatsApp groups that promoted phony investment ideas, the victim, Rajiv Ranjan Sharan, 67, of Sitapur Road, became a victim of the scam.

Cyber News Dec 29, 2024 0 16 Add to Reading List

A former LU professor was defrauded of Rs 7.7 crore by online scammers.

Cybercriminals impersonating investment advisors defrauded a retired professor from Lucknow University of Rs 7.7 crore. After being added to several WhatsApp groups that promoted phony investment ideas, the victim, Rajiv Ranjan Sharan, 67, of Sitapur Road, became a victim of the scam.

Sharan joined a WhatsApp group run by Meera Morgan, who identified herself as the group administrator, in September of this year. Information on stock market tactics and investment objectives was included in the group description. On September 12, Sharan was quickly added to a another group called "Zerodha Market DD," where Geetika Anand, another moderator, purported to be a market expert offering guidance on the share market.

Meera and Geetika exchanged in-depth evaluations and suggestions regarding the Indian stock market. I decided to invest because of their compelling analysis and assurances of large profits," Sharan stated.

Sharan joined on their website and started sending money to the designated accounts after following their instructions. Attracted by the prospect of large gains, he gradually moved Rs 7.7 crore to different bank accounts.

However, the scammers demanded more money for taxes, service fees, and consulting fees when Sharan tried to withdraw his investments. He cooperated with their requests in the hopes of recouping his earlier money. The scammers persisted in making excuses and demanding more money even after the necessary sums were transferred. Sharan recognized then that the whole plan was a carefully planned sca

"I transferred money as instructed because I trusted their knowledge. He explained, "My money was not returned even after I met all of their demands, and they continued to demand more under false pretenses."

The cyber cell's SHO, Brijesh Kumar, attested to the fact that a formal complaint had been filed in the matter. He declared, "We are actively looking into the situation and trying to find the accused."

The event serves as a warning to people to be wary of unsolicited investment offers and refrain from sending money or transferring funds without first confirming the legitimacy of such schemes.