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Jaipur: In Jaipur, fraudsters have deceived individuals by offering premium shares at budget prices, promising lucrative returns on investments and IPOs. The city police have recorded at least three such cases this month alone.On June 20, a victim reported receiving a phone call from a representative of a mobile application, urging him to invest Rs 15 lakh with promises of hefty returns. However, when he tried to withdraw his money a few days later, it was frozen, and the representative’s phones were switched off.In another incident, a man lost Rs 30 lakh to a dubious online investment firm. The scammers used jargon such as ‘long-term compound investment program’ and asked him to transfer money in multiple tranches to different bank accounts. Similarly, a third victim lost Rs 16 lakh in an online investment racket. “Many such WhatsApp and telegram groups promise to double investments against the market rate, leading victims to lose their money,” said an official.Jaipur police officials noted that this racket has been growing exponentially for many months. “People often neglect cyber safety measures when dealing with these scammers, who create fake investment apps and lure individuals with promises of guaranteed short-term returns,” an official added. Police also said that scammers often offer small initial returns to gain the victim’s trust before asking for a large investment.
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