Bengaluru firm director falls for lure of 1,500% returns, loses Rs 6.54 crore in share trading scam

A 56-year-old director of a private firm in Bengaluru lost Rs 6.54 crore after falling for a fake online share trading application promising 1,500 per cent returns on investment.

One of the largest trading scams in Bengaluru this year, the crime came to light when the victim approached the Northeast CEN police station on 16 October to file a complaint, alleging that he had lost significant money due to fraud.