Cyber Frauds Dupe Youth Of Over Rs 25 Lakh On Plea Of Stock Trading In Odisha’s Angul

Angul: A youth has been duped of Rs 25 lakh allegedly by cyber frauds on the plea of stock trading in Odisha’s Angul district.

According to sources, the youth, identified as Narendra Sahu of Gotamara village under Banarpal police station in the district, received a message on his Whatsapp about online stock trading in December last year. He joined the Whatsapp group and continued to receive advisories and other messages on the stocks for daily trading.

The cyber frauds advised him to invest Rs 50,000 in different stocks initially to earn profit. As promised, Narendra gained profit after investment and gradually invested more. By the end of February this year, he invested Rs 25.57 lakh in different stocks as per advice of the group head.

On February 20, he found that the account he had opened for trading had a deposit of Rs 1.18 crore. But when he tried to withdraw some amount, his request was rejected. After his repeated attempts to withdraw from the account failed, Narendra informed the administrator of the group.

Narendra was told to deposit at least 20% of his profit amount in another account to withdraw from his main account. When he tried to contact other members of the group, their phones were switched off.

Realising that he had become a victim of cyber frauds, Narendra filed a complaint with cyber police in Banarapal. The police have registered a case and started investigation.