Nagpur Man’s Rs 87 Lakhs Loss To Fake Trading Portal: All About The Scam And How You Can Stay Safe?

A 41-year-old businessman from Nagpur has become the latest victim of online trading fraud, losing a staggering Rs 87 lakhs to fake trading portal. The incident underscores the rising trend of online trading scams plaguing the country, with fraudsters enticing unsuspecting individuals with the allure of high profits.

How He Was Trapped Into The Scam?

The victim, identified as Mishra, was lured into the scam after receiving a friend request on Facebook from an individual named Jesleen Prasad, who later approached him with an offer to trade on the New York Stock Exchange. Prasad introduced Mishra to a dubious online platform, purportedly linked to the stock exchange, where he was shown fabricated screenshots of successful trades to gain his trust.

Trusting Prasad’s assurances, Mishra proceeded to invest small amounts of money, witnessing seemingly impressive returns within minutes from the fake trading portal. However, the situation took a dire turn when he was persuaded to invest larger sums, promised substantial profits in return. Despite initial gains, Mishra soon found himself facing significant losses, with his entire investment wiped out in a matter of minutes.

As Mishra attempted to recover his losses, he was coerced into making further payments under the guise of unlocking his profits. Realizing he had fallen victim to a scam, Mishra promptly filed a complaint with the Lakadganj police station.

Tips For Safeguarding Against Scams

This unfortunate incident serves as a stark reminder of the dangers posed by online trading frauds and the importance of exercising caution when engaging in such activities. To safeguard against falling prey to similar scams, individuals are advised to conduct thorough research on trading platforms, scrutinize promises of unrealistic returns, and remain vigilant for any red flags indicating potential fraud.