Mysore/Mysuru: A man has allegedly lost Rs. 17.8 lakh investment in trading, after believing in a trading message received on his cell phone.

Sharan, a resident of Vijayanagar 4th Stage in city, has lodged a complaint at Cyber, Economic and Narcotics (CEN) Crime Police Station here in this regard.

In his complaint, Sharan has stated that “I received a message related to trading from the number +4915212070582 on my cell phone on Apr. 21. Without suspecting, I gradually transferred Rs. 17.8 lakh to various accounts as informed by the racketeers. However, neither I got my share of profit nor the investment was returned, thus cheating me.”

CEN Police have warned people against falling prey to such fraudsters, as there has been a rise in the number of such fake trading networks, where the gullible investors are lured with higher profit margin on investment. 

Recently, in a similar fashion, an Engineer was swindled of Rs. 89.5 lakh through a dubious trading app.