Steel firm manager loses 96L to crooks

Rajkot: A senior manager with a steel manufacturing company in Mundra town of Kutch district was cheated of Rs 96.16 lakh with a promise of high returns on investment in the stock market.
According to a police complaint filed by Brijesh Kumar Patel (51), who has been working as senior manager for 17 years, he learned about earning high returns through stock market investments via Facebook.During 2023 and 2024, the cybercrooks lured Patel to invest in the stock market through four mobile applications namely — Yes World Forex, Barclays, I C Organ Max and GSMAX.
Between Sept 12, 2023 and May 19, 2024, Patel registered on these mobile applications as directed by the cybercrooks and invested Rs 96.16 lakh. When the application showed a significant profit in the portfolio, Patel made an application for withdrawal, but he was not allowed to do so.
The fraudsters gave various reasons ranging from technical glitches to Lok Sabha elections. Patel soon realized that he had been scammed.
Patel is a native of Uttar Pradesh and has been working in Mundra.