A 45-year-old jewellery workshop owner from Coimbatore has fallen victim to an online scam, losing Rs 46.9 lakh to fraudsters who promised high returns through share market investments.
How the Scam Unfolded
According to police, the victim runs a jewellery workshop at Chokkampudur near Selvapuram. In March, he accepted a Facebook friend request from an unknown woman. After chatting for a few days, she claimed to be a widow and introduced him to online stock market trading, stating that she was earning huge profits from it.
Later, his phone number was added to a WhatsApp group where members regularly discussed buying and selling shares of various companies. An unidentified person from the group contacted the jeweller and persuaded him to invest in the stock market for high returns.
Transactions and Realization
Believing the fraudsters, the jeweller transferred Rs 46.89 lakh in several transactions between March and April to various bank accounts provided by them. However, he neither received the promised profits nor was he able to withdraw his principal amount. When he tried to contact the woman on Facebook, her profile and contact details were no longer accessible.
Police Action
Realizing he had been cheated, the jeweller lodged a complaint with the city cybercrime police. A case was registered on May 15, and an investigation has been initiated to trace those behind the scam.
Precautions Against Online Frauds
Authorities advise the public to be cautious of unsolicited investment offers on social media and messaging platforms. Always verify the authenticity of trading platforms and avoid sharing personal financial details with unknown individuals.
