In a troubling incident of cyber fraud that unfolded in Mumbai, a 75-year-old retired Merchant Navy officer named Zhakshis Kosa Wadia fell victim to a deceitful scheme, losing a staggering Rs 11.16 crores.
The perpetrators ensnared Wadia by enticing him into a fraudulent investment opportunity presented through a WhatsApp group called “Motilal Oswal Investment Club 17.” They skillfully manipulated him into transferring his hard-earned money across 22 different bank accounts, all while showcasing fictitious profits via a deceptive application.
However, when Wadia attempted to withdraw his investments, he was confronted with an unexpected demand for an additional 20% tax, which sparked his suspicions. Seeking clarity, he visited the legitimate Motilal Oswal Investments office, only to uncover the harsh reality of the scam.
Distressed by the experience, he promptly reported the incident to the South Cyber Police Station, where a case has been officially registered, and investigations are currently in progress to bring the fraudsters to justice.
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