Telegram trading scam costs Jamshedpur youth Rs 6 lakh

Mail News Service

Jamshedpur, June 28: A youth from East Plant Basti in Burmamines lost nearly Rs 6 lakh in a cyber fraud after being lured with promises of high returns through online trading.

The victim has lodged a complaint with the Cyber Crime Police Station in Bistupur, prompting an investigation into the case.
According to the complaint, the fraudsters first added the victim to a Telegram group where fake members regularly posted screenshots and messages claiming massive profits from share market trading.
The posts were designed to create trust and encourage investment.

The group’s administrator, posing as an experienced trading expert, later contacted the victim and persuaded him to invest in a purported firm named “Global Premium Company.”

Claiming the platform could generate double or triple returns within a short period, the fraudsters even displayed fake virtual profits on a bogus trading portal to gain his confidence.

Believing the claims, the victim transferred nearly Rs 6 lakh in multiple transactions to bank accounts provided by the accused. However, when he attempted to withdraw his investment and profits, the fraudsters demanded additional payments under the pretext of taxes, processing charges, and other fees.

Growing suspicious, the victim insisted on a refund, but the accused immediately removed him from the Telegram group and blocked his mobile number. Realising he had been duped, he approached the Cyber Crime Police Station and filed a complaint.

Police have begun investigating the bank accounts, transaction records, and other digital evidence to trace the accused. Officials have urged the public to remain cautious of investment schemes promoted through social media and messaging apps and to verify the authenticity of any online trading platform before investing money.