Published On : Wed, Apr 10th, 2024

Symbiosis student in Nagpur loses Rs 23 lakh in investment fraud


Nagpur: A student of Symbiosis Institute of Business Management Nagpur was cheated of Rs 23.04 lakh by an online fraudster on the pretext of investing in cryptocurrency.

A native of Baisakhi Sarani, West Bengal, Saurabhkumar Krishnakumar Sharma (28) received a WhatsApp message offering a part time job and information about investment in cryptocurrency in November last year when he was in his hostel room. The fraudster gained his confidence and lured him to invest in cryptocurrency trading by promising huge returns. Between November 17, 2023 and December 4, 2023, he borrowed some money from his friend and transferred Rs 23.04 lakh to the account given by the cyber fraudster.

When Saurabhkumar did not receive any profit, he realised that he was defrauded and approached the police. Following the victim’s complaint, Wathoda Police registered a case under Sections 419,420 of the Indian Penal Code, read with Sections 66(c), 66(d) of the Information Technology Act and started investigation.