Bengaluru Online Trading Scam Claims ₹9.54 Crore from Three Victims, Including a Techie

In a massive online trading scam that has shocked Bengaluru, three individuals lost a combined ₹9.54 crore after falling prey to fraudulent investment schemes promising high returns. The victims, identified as two businessmen, Ramit Goel (50) and Raman Kumar (51), along with 45-year-old Ramila S, an engineer at a private firm, were lured into these schemes through WhatsApp groups promising early access to lucrative stock tips and Initial Public Offerings (IPOs). The fraudsters added them to groups named "JJ77 Investing in India" and "G3364 MAIN PULL UP LAYOUT EXCHANGE GROUP," where they shared attractive stock trading tips and investment opportunities.

The scam began with an enticing pattern designed to instill trust among investors. As per reports, Ramila received ₹1.10 lakh as an initial profit, a tactic commonly used by scammers to gain the victims’ confidence and keep them engaged in the scheme. The other two victims, however, did not receive any returns on their investments, raising suspicions only after their funds were lost. The victims, believing they were seeing substantial returns, continued to invest, unaware that the impressive gains shown in the apps were fabricated.

The scheme came to light after Goel filed a complaint with the Central CEN crime police on October 24, detailing his significant financial losses. Following this, the Whitefield CEN crime and Cyber Crime police registered additional complaints from Kumar and Ramila, both on October 22 and 24. Bengaluru authorities are now actively investigating the case to track down the culprits and prevent further incidents of financial fraud.

As online investment scams grow in sophistication, authorities are warning people to exercise caution when dealing with unfamiliar investment groups or unregulated trading platforms. Scammers often exploit high-return promises, early investment opportunities in IPOs, and seemingly profitable gains to attract unsuspecting individuals. Police are urging citizens to verify investment opportunities through official channels and avoid platforms lacking credibility or regulatory approval.

This case highlights the growing trend of cyber scams targeting investors through social media and private messaging groups, where fraudsters can more easily gain their victims' trust. The police investigation is ongoing, and authorities are working to uncover the entire network behind this extensive operation in hopes of recovering the victims' funds and holding those responsible accountable. The incident is a reminder of the risks associated with unverified trading platforms and high-return promises that seem too good to be true.