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A Hyderabad resident was contacted on Facebook with promises of high returns and added to a WhatsApp group named after a well-known brokerage. A man claiming to be its chief investment officer told him he could get IPO allotments through "institutional buyers" because he was a high net worth investor, and gave him so-called regulatory accounts for the payments.
Over about three weeks he paid…
From the ScamBhai desk, based on a news report: Deccan Chronicle, 18 Sep 2024 · Source