A 75-year-old retired ship captain has been scammed of a staggering Rs11.16 crore over four months in a fraudulent stock market investment scheme, according to the police. The victim, with a keen interest in stock market trading, was lured into the scheme promising high returns. Initially, the victim noticed profits in his online account, but when he attempted to withdraw his earnings, he was told he needed to pay a 20% service tax fee.
Realizing he had been deceived, the retired captain filed a complaint with the South Cyber Police Station. The police launched an investigation and arrested Kaif Ibrahim Mansuri, a history-sheeter linked to the fraud. During the investigation, authorities seized 33 debit cards and 12 cheque books from different banks, used by the fraudsters to siphon off the victim’s money.
Between August and November of this year, the victim transferred funds through 22 transactions into various bank accounts, amounting to Rs11.16 crore.
