![Vadodara stock market trader cheated by fraudsters in name of invest in stock market, bitcoin, forex and IPO](https://img-cdn.thepublive.com/fit-in/640x430/filters:format(webp)/connect-gujarat-english/media/post_banners/2266339b7db2bec3b6bc15fdbe0437fd3aa0d074e89c7c1df1d36086ef4aea93.webp)
If you are going to invest in stock market, bitcoin, forex and IPO, beware of fraudsters. A trader living in Vadodara has lost Rs 2.08 crore in the lure of getting 25 per cent return. In the name of investing in the stock market, Bitcoin and IPO, 12 swindlers cheat the trader from the city. An offence has been registered in the cyber crime police station.
As per available details a stock market trader living on Bil Chapad Road in Vadodara was approached by 12 people on social media to start trading in the stock market, IPO, Forex and Bitcoin. They make him transfer more than four crore and returned 1 crore 96 lakhs and the remaining amount of Rs 2 crore was not given. The youth lodged a complaint at Cyber Crime Police Station and police registered a case and started investigation.
Dhruv Vipulbhai Shah, who lives on Bill Chapad Road in Vadodara city and resident Dhandhuka in Ahmedabad district, trades in the stock market. Last October 2020, he saw an advertisement on social media, where a link of social media was given for contact if anyone wants to start their own trading business in stock market, IPO, Forex and Bitcoin.
When the youth clicked on this link, a channel called Mahadev Books was opened and then he was tempted to say that if you invest Rs 10 lakh in the stock market, you will get 25 per cent return per month and if you invest more than Rs 1.5 lakh, you will get 15 per cent return. The youth showed his intrest in 2.5 lakhs investment and the swindlers talked to him and asked him to transferred 4 crore in different accounts. He took amount from relatives to invest the money between October 2020 and May 2021.
Dhruv Shah transferred rupees from his accounts in HDFC Bank, AU Small Finance Bank, Bank of India. He also transferred money from his mother's HDFC Bank, ICICI Bank and Bank of Baroda accounts.
The accused returned Rs 1 crore 96 lakh to the youth as a return, however the remaining Rs 2.08 crore was not returned and they blocked the number of the youth after stopping to pick up the phone. Eventually the victim filed a complaint against 12 account holders in the matter. The Cyber Crime Police has registered a case and started further investigation.