India, March 7 -- A 63-year-old retired Air Commodore lost Rs.1.45 crore to online share trading fraud after being approached by a gang on WhatsApp which lured him into making 16 bank transactions with the promise of huge returns. After the transactions, the complainant, who was made to believe he was investing in shares, noticed a balance of Rs.8 crore in his virtual trading account, but could not withdraw it. This led him doubt the authenticity of the gang's claims and he approached the West Cyber police who registered an FIR on March 5.

According to the police, the complainant, a retired Air Commodore, lives in Powai and is currently working in a private aviation company as a commercial pilot. In his complaint, he alleged that he was ...