Surat: A 61-year-old broker was allegedly cheated of Rs 1.24 crore in a fake share investment and trading scheme that promised 4% monthly returns, police said. Surat cybercrime police have registered a case against unidentified persons and started an investigation on Sunday.According to police, the victim came across an advertisement on social media that claimed to offer assured monthly returns on investments. After clicking on the advertisement, he was contacted by a woman who claimed the company was registered with SEBI and engaged in share market research and analysis.Police said the victim and his nephew were later invited to a Google Meet session, where a man introduced himself as the company’s CEO and explained various investment schemes while allegedly promising high profits.The victim was then allegedly asked to download a mobile application and create an account. The accused later provided trading tips and instructed him to transfer money into multiple bank accounts for investment purposes.Investigators said that between March 2023 and April 2026, the victim and his family members transferred a total of Rs 2.21 crore. However, they were allowed to withdraw only Rs 96.66 lakh.When the victim later sought further withdrawals, the accused allegedly claimed that the account had been frozen by SEBI and that withdrawals could not be processed.Suspecting fraud, the victim contacted the cybercrime helpline number 1930 and lodged a complaint.
