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How A Businessman Fell Victim To Fake Online Scam, Lost Rs 87 Lakh

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Nagpur: Online investors are facing heightened risks as cases of online trading fraud continue to rise. A 41-year-old businessman from Nagpur fell victim to a fake online platform, losing a staggering Rs 87 lakhs in the guise of investing in the New York Stock Exchange. The promise of high returns proved to be a trap, leaving the victim in financial turmoil.

The victim, identified as Mishra, initiated contact with the fraudsters after receiving a friend request from Jesleen Prasad on Facebook. Prasad enticed Mishra with the opportunity to trade on the New York Stock Exchange through a portal named To bolster credibility, Prasad showcased purported screenshots of successful trades by other investors on social media.

Under the illusion of substantial returns, Mishra shared his bank details and was provided with a login ID for trading. Initially investing small sums, Mishra witnessed rapid appreciation in his investments, further cementing his trust. However, the tide turned swiftly when Mishra was coaxed into investing Rs 30 lakhs, with the promise of exponential profits.

In a mere 10 minutes, Mishra's entire investment was wiped out, with Prasad attributing the losses to Mishra's alleged failure to adhere to instructions. Undeterred, Mishra was enticed once again, this time to invest Rs 57 lakhs, with the assurance of significant gains. Although the trading screen purportedly displayed profits of Rs 8 crores, Mishra's hopes were dashed when he was informed of an additional payment requirement of Rs 82 lakhs for a security code.

Realising the gravity of the situation, Mishra promptly lodged a complaint with the police. The Lakadganj police station is now investigating the case to bring the perpetrators to justice and recover the defrauded funds.

In light of this incident, experts advise caution to online investors, urging them to conduct thorough research on trading platforms and companies, verify official websites and contact details, and remain vigilant against unrealistic promises. Staying informed and cautious is paramount in safeguarding against such fraudulent schemes.

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