Mysore/Mysuru: Online fraudsters have allegedly cheated a city businessman of Rs. 59 lakh on the pretext of share trading.

The victim is 33-year-old Sharath (name changed), a resident of Siddarthanagar, who was involved in trading via demat account. Sharath, who was searching for trading online came across a mobile phone number and contacted it. Later, Sharath’s mobile number was added to a WhatsApp group and information regarding Institutional Trading was sent to him along with a website link.

Sharath opened the link of a trading account and took an appointment for buying shares. The fraudsters gave a Bank account and procedure to transfer the money. Sharath then invested in shares and also made profit, Believing that it was safe to invest further, Sharath invested a total of Rs. 59.10 lakh in phases and his account also showed the profit earned by him. But, he was unable to withdraw profit money from his account. When he contacted the mobile number, the person on call cited various reasons.

After a few days, Sharath came to know that he has been cheated and lodged a complaint at city’s CEN Police Station.