Indian Man Loses Rs 40.5 Million in Online Trading Scam

A sophisticated cyber fraud in India has resulted in a Kerala man losing Rs 40.5 million in just two and a half months. The 45-year-old victim was targeted by a scammer impersonating a representative of a well-known financial services company. The fraudster, identified as Avanthika Dev, contacted the victim on WhatsApp, luring him with promises of massive profits through share trading.

The victim was persuaded to download an app named Br-Block Pro, purportedly developed by the financial services company. With assurances of high returns and quick gains, the man began investing through the app. Between September 26 and December 9, he made multiple payments.

However, the victim's hopes for lucrative profits were dashed as he neither received any returns nor was able to recover his initial deposits despite continuous investments. Realizing he had been scammed, the victim filed a complaint with the local police, with the case registered and currently being investigated.