83-year-old retiree loses Rs 1.19 crore in fake IPO scam

June 22, 2025

An 83-year-old Mumbai man lost Rs 1.19 crore in an online stock scam after joining a fake WhatsApp group posing as ICICI advisors. Lured by false profit promises and fake documents, he transferred funds before realising the fraud. A cybercrime FIR has been filed; investigation is ongoing.

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