India, Nov. 27 -- A 72-year-old Mumbai resident has alleged that he was duped of Rs.35 crore in a sophisticated trading scam that stretched over four years, media reports said.

Bharat Harakchand Shah, who lives in Matunga West and runs a low-cost guest house for cancer patients in Parel, says a brokerage firm, Globe Capital Market Limited, carried out massive unauthorised trades through his and his wife's accounts, wiping out the wealth he inherited four decades ago.

How did it begin?

Shah inherited a sizable share portfolio after his father's death in 1984, but he and his wife never actively invested, lacking knowledge of stock markets.

That changed in 2020 when, on a friend's recommendation, he opened Demat and trading accounts with...