HIGHLIGHTS

Baptist Maurice Lobo became a victim of a scam involving a WhatsApp group called Aarayaa hss.

In this group, he was promised significant profits from stock market investments.

Deceived by these alluring offers, he ended up investing a substantial amount.

It is alarming to consider how enticing promises of high returns can lead to devastating losses for unsuspecting individuals. This unfortunate tale centers around a man who fell prey to a sophisticated online stock market scam, resulting in a staggering loss of Rs 23.4 lakh.

The plight of the complainant, Baptist Maurice Lobo, began when he was unexpectedly added to a WhatsApp group titled Aarayaa hss by unknown individuals. Within this group, members were sharing tempting details about the potential for enormous profits through investments in the stock market. The extravagant claims made in the group piqued Baptist’s interest and prompted him to invest his hard-earned savings.

If you are interested in similar instances, you may also read: How a WhatsApp trading scam cost a Kerala man Rs 71 lakh.

Between December 2, 2024, and January 6, 2025, Baptist transferred an alarming total of Rs 21.4 lakh from both his bank account and that of his mother’s to various accounts specified by the scammers. Despite adhering to the instructions and making the payments as directed, Baptist quickly became disillusioned when he found that he had not received any of the promised returns, nor even a reimbursement of his initial investment.

Overwhelmed by the realization that he had been swindled, Baptist took the necessary steps to protect himself by filing a formal complaint with the Central Economic Crimes police station.

Another story of loss can be found here: Bengaluru techie loses Rs 11cr in fake money laundering case: Here’s what happened.

How to Protect Yourself from Such Scams

• Verify Investment Opportunities: Always conduct thorough research on the organization or platform proposing investment options. Genuine firms will have a solid track record and verifiable credentials.
• Avoid Pressure Tactics: Be alert to pressure created by scammers; urgent requests for decisions can lead to hasty actions that you may later regret. Take the time to assess any opportunity carefully before committing.
• Beware of Unsolicited Groups: Be cautious when added to unfamiliar WhatsApp or social media groups advocating get-rich-quick schemes. If it seems too good to be true, it probably is.
• Cross-check Payment Requests: Never send money to personal or unknown bank accounts. Secure investment platforms have legitimate payment options that are traceable.
• Seek Expert Advice: Consider discussing your financial decisions with a certified financial advisor before making any significant investments.
• Be Skeptical of Guarantees: Recognize that any legitimate investment will carry some degree of risk, and no sound investment plan can assure high returns without risks involved.

You may also want to read: Delhi man loses Rs 9 lakh to fraudsters posing as electricity department officials.