India, Oct. 29 -- In a case of digital trading fraud, a retired Indian Air Force officer lost around Rs.97 lakh, in which he was compelled to take loans of Rs.55 lakh to continue making online payments.

The 53-year-old officer, a resident of Pune, was allegedly made to register on a fraudulent share trading app, where his earnings was projected to reach Rs.4.4 crore. An FIR has been registered in the case on the complaint of the IAF veteran.

According to the complaint, the officer was manipulated into making 18 large transfers to mule accounts over a period of 40 days during which he was made to believe that he was investing in a trusted share trading platform.

However, he was conned by cyber fraudsters posing as share trading experts ...