Mumbai: Diamond trader loses shares worth over Rs 59 lakh to cyber fraud

The man clicked on link and entered the OTP after which he lost his shares

A diamond trader has filed a complaint with the Mumbai police cyber cell, claiming he lost shares worth Rs 59.66 lakh to an online fraud while trying to sell 150 shares he held with a company.

The 35-year-old claimed that he holds a Demat account (digital repository that holds stocks and bonds in electronic form) with Angel One and owned 150 shares in addition to other shares, amounting to Rs 59.66 lakh.

IN PHOTOS: Mumbai witnesses thick blanket of clouds day after heavy rains

2 months agoPHOTO GALLERY

The man said he received a call on August 13 while he was trying to initiate the exit process with Angel One and shared his personal details with the caller. "I trusted him because I had spoken with Angel One's customer care earlier that same day. Believing the call to be genuine, I agreed to share my PAN card and Aadhaar card details and also gave the OTP," he said in his complaint.

According to the complaint filed with the police, on August 15, he received login details and an OTP regarding an offline transfer beneficiary from the Central Depository Services Limited (CDSL), and thinking that it was legitimate, he clicked on the link and entered the OTP.

The next day, he discovered that all his shares, apart from the 150 he was trying to sell, worth Rs 59.66 lakh, had been transferred to another Demat account. The specific value of the 150 shares he sought to sell is not mentioned in the first information report.

The complainant claimed that he later received calls from Angel One, assuring him that the shares would be credited back to his own Demat account. However, that did not happen and on September 22, he decided to file an official complaint with the cyber police.