In a troubling incident that highlights the dangers of investment fraud, a director of a Hyderabad-based private pharmaceutical company has fallen victim to a sophisticated scam, losing Rs 14.5 lakh in the process. The fraudsters, who initially contacted him via whatsapp, lured him in with the tantalizing promise of a staggering 600 percent return on his investment.
The saga began in august when the director received a whatsapp message outlining an investment opportunity that seemed too good to ignore. Intrigued, he was soon added to a whatsapp group titled "Absolute Brokerage 878," which further cemented the illusion of legitimacy. Within this group, the scammers continued to press their case, urging him to invest through their online trading application.
Claiming to have been registered and operating with the Securities and Exchange Board of india (SEBI) for ten years, the scammers effectively played on the director's trust and desire for high returns. Despite the apparent risks, the promise of monumental profits proved irresistible, leading him to invest a substantial sum.
As time passed, however, the promised returns never materialized, and the scammers disappeared, leaving the director grappling with significant financial losses. This incident serves as a stark reminder of the pervasive risks associated with online investment schemes. As this incident reveals, the allure of quick riches can cloud judgment, but staying informed and cautious is key to safeguarding one’s finances in an increasingly wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital world.
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