Mysuru:  Online fraudsters, who had created a fake trading company in the name of a reputed Bank, have cheated a city resident of Rs. 26 lakh.

The victim, a 42-year-old resident of Vishweshwaranagar while browsing through his Instagram account, came across an advertisement related to online trading and clicked on the website link provided in the advertisement, following which his mobile phone number was added to a WhatsApp group immediately. He was then provided information about Block Investment IPO and was asked to create an account.

The fraudsters, who lured the man into investing more money to get huge profit, got the man invest a total of Rs. 26.95 lakh in phases. Later, the man sensing something fishy, called the Bank, in the name of which the fraudsters had opened the company, only to learn that the company was fake and then lodged a complaint at city’s CEN  Police Station.