India, March 8 -- A 32-year-old engineer from Airoli lost Rs.1.76 crore to cyber frauds who lured him with high returns on investment in share trading through their fraud application. The frauds posed as representatives of two reputed banks to deceive him into making the substantial investments.

According to the statement given to the cyber police by the complainant, on November 17, 2024, he came across an advertisement for YES Securities and joined a WhatsApp group named "H88-YES Phase 7 Layout."

The group allegedly shared SEBI registration certificates and success stories from investors, which convinced the complainant to invest in the share market through their fraud application.

"He was continuously guided by individuals posing as ...