Imagine being promised high returns on your investments only to end up losing your hard-earned money. Unfortunately, this is what happened to a man who became a victim of an online stock market scam, losing Rs 23.4 lakh.
Baptist Maurice Lobo, the complainant, alleged that unknown individuals added him to a WhatsApp group called Aarayaa hss. In this group, they shared lucrative details about making large profits by investing in the stock market. Intrigued by these promises, he was encouraged to invest his money.
How to Avoid Such Scams
Between December 2, 2024, and January 6, 2025, Baptist transferred a total of Rs 21.4 lakh from his and his mother’s bank accounts to various bank accounts provided by the scammers.
Despite making the payments as instructed, Baptist claims he never received any of the promised profits or even his initial investment back. Realising he had been deceived, he lodged a formal complaint with the CEN crime police station.
To protect yourself from falling victim to similar scams, consider the following tips:
- Research Thoroughly: Always investigate the company or individuals before investing your money. Look for reviews and check their credibility.
- Be Wary of Promises: If it sounds too good to be true, it probably is. High returns often come with high risks.
- Secure Communication: Avoid sharing personal information in unverified groups or chats. Legitimate companies usually have secure communication channels.
- Consult Professionals: Seek advice from certified financial advisors before making any investment decisions.
For more insights on smart investing and financial safety, visit Looffers.com. Stay informed and protect your investments!
