Goa, Oct. 14 -- A 72-year-old man from Tiswadi has fallen victim to Goa's largest online investment fraud, losing Rs.4.74 crore in a fake IPO scheme lured via social media. Fraudsters posing as Qualified Institutional Buyers (QIBs) convinced the victim to invest large sums by promising high returns. Goa Police's Economic Offense Wing has registered a case and is investigating to trace the culprits and recover the lost money.

Authorities warn the public to be cautious of online investment scams and verify offers before investing. This incident highlights increasing cyber fraud risks in the state, especially targeting senior citizens. Vigilance and prompt reporting of suspicious schemes are urged to prevent further losses and bring perpetr...