Thane Businessman Scammed by "Trusted" WhatsApp Group on Stock Tips in Rs 1.88 Crore Scam

 A Thane businessman fell victim to a sophisticated scam orchestrated through a supposedly "trusted" WhatsApp group that offered stock tips. The scam, amounting to Rs 1.88 crore, highlights the dangers lurking in online investment communities.

The businessman, whose identity remains undisclosed, joined the WhatsApp group seeking reliable stock market advice. The group, purportedly led by experienced investors, claimed to provide insider tips for lucrative investments.

Over time, the businessman followed the group's recommendations, investing substantial amounts based on their guidance. However, as the investments failed to yield returns and the promised profits never materialized, suspicions arose.

Upon investigation, it was discovered that the WhatsApp group was a front for a well-coordinated scam. The so-called experts were fraudulent actors who manipulated stock prices and provided false information to deceive investors.

The victimized businessman, now facing significant financial losses, has filed a complaint with the authorities. This incident serves as a cautionary tale, emphasizing the need for thorough due diligence before trusting online investment platforms or groups promising quick gains.

Authorities are urging the public to exercise vigilance and skepticism when dealing with financial advice from unknown sources, especially in virtual communities where fraudulent activities are rampant.

A 48-year-old businessman from Thane, Maharashtra, fell prey to a sophisticated share trading scam on WhatsApp, resulting in a staggering loss of Rs 1.88 crore. The victim, who operates a coaching class, was enticed into the fraudulent scheme after joining a group named 'STOCK Vanguard (F)' in March. This group boasted approximately 170 members and actively shared stock tips and trading guidance, initially convincing the businessman of its credibility.

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"A 48-year-old businessman in Thane, Maharashtra, faced a significant financial setback, losing Rs 1.88 crore in a cunning share trading scam orchestrated through WhatsApp. The victim, who owns a coaching class, was drawn into the scheme after joining a group named 'STOCK Vanguard (F)' in March. This group, boasting around 170 members, actively shared stock tips and trading advice, initially convincing the businessman of its legitimacy."