JAIPUR: In Jaipur, fraudsters are duping individuals by offering premium stocks at bargain prices and promising big returns in investments and IPOs. The city police have recorded at least three such cases this month alone. On June 20, a victim reported that he received a call from a mobile app representative, who encouraged him to invest Rs 1.5 lakh, promising huge returns. But when he tried to withdraw the money a few days later, the funds were frozen and the representative’s phone was switched off. In another incident, a man lost Rs 3 lakh to a dubious online investment company. The fraudsters used technical terms like “long-term compound interest investment programme” and asked him to transfer the money in installments across multiple accounts. Similarly, a third victim lost Rs 1.6 lakh in an online investment scam. “Many of these WhatsApp and Telegram groups promise to double the investment amount over market rates, leading victims to lose money,” an official said. Jaipur police officials noted that the scam has been growing exponentially for months. “Many people neglect their cyber safety measures while dealing with these fraudsters. They create fake investment apps and lure individuals with the promise of guaranteed short-term profits,” the official added. Police also said that fraudsters often offer small initial profits to gain the trust of their victims before asking for larger investments.
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